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ﺍﻷﺴﺘﺎﺫ :ﺸﺭﻴـﻘﻲ ﻋﻤـﺭ ﺍﻝﺭﺘﺒﺔ :ﺃﺴﺘﺎﺫ ﻤﺴﺎﻋﺩ – ﺃ – ﺍﻝﻤﺅﺴﺴﺔ :ﻜﻠﻴﺔ ﺍﻝﻌﻠﻭﻡ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﻭﻋﻠﻭﻡ ﺍﻝﺘﺴﻴﻴﺭ – ﺠﺎﻤﻌﺔ ﺴﻁﻴﻑ – ﺍﻝﻌﻨﻭﺍﻥ :ﺤﻲ 750ﻤﺴﻜﻥ ،ﻋﻤﺎﺭﺓ ﺱ 36ﺭﻗﻡ ،478ﺴﻁﻴﻑ. ﺍﻝﻬﺎﺘﻑ0773 65 99 15 : ﺍﻝﺒﺭﻴﺩ ﺍﻻﻝﻜﺘﺭﻭﻨﻲcherigui_omar@yahoo.fr :
ﺍﻝﻤﻠﺨﺹ: ﻴﻌﺘﺒﺭ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺼﺭﻓﻲ ﺃﺤﺩ ﺃﻫﻡ ﺃﺠﺯﺍﺀ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺎﻝﻲ ،ﻭﺇﻥ ﺍﺴﺘﻘﺭﺍﺭ ﻫﺫﺍ ﺍﻷﺨﻴﺭ ﻤﺭﺘﺒﻁ ﺒﺎﺴﺘﻘﺭﺍﺭ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺼﺭﻓﻲ ،ﻭﻤﻥ ﺒﻴﻥ ﺍﻷﺴﺒﺎﺏ ﺍﻝﺘﻲ ﺃﺩﺕ ﺇﻝﻰ ﻋﺩﻡ ﺍﺴﺘﻘﺭﺍﺭ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺼﺭﻓﻲ ﻫﻭ ﻋﻭﻝﻤﺔ ﺍﻷﺴﻭﺍﻕ ﺍﻝﻤﺎﻝﻴﺔ ﻭﻅﻬﻭﺭ ﺍﻝﻜﺜﻴﺭ ﻤﻥ ﺍﻻﺒﺘﻜﺎﺭﺍﺕ ﺍﻝﻤﺎﻝﻴﺔ ﺍﻝﺘﻲ ﺃﺩﺕ ﺇﻝﻰ ﺍﻝﺤﺩ ﻤﻥ ﻓﻌﺎﻝﻴﺔ ﺍﻷﺩﻭﺍﺕ ﺍﻝﺘﻘﻠﻴﺩﻴﺔ ﺍﻝﻬﺎﺩﻓﺔ ﺇﻝﻰ ﻀﻤﺎﻥ ﺍﻻﺴﺘﻘﺭﺍﺭ ﻓﻲ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺼﺭﻓﻲ. ﻭﺴﻭﻑ ﻨﺘﻨﺎﻭل ﻓﻲ ﻫﺫﻩ ﺍﻝﻤﺩﺍﺨﻠﺔ ﺇﺤﺩﻯ ﺍﻝﻭﺴﺎﺌل ﺍﻝﺤﺩﻴﺜﺔ ﺍﻝﻬﺎﻤﺔ ﺍﻝﺘﻲ ﺘﻬﺩﻑ ﺇﻝﻰ ﺍﻝﺤﻔﺎﻅ ﻭﻀﻤﺎﻥ ﺍﻻﺴﺘﻘﺭﺍﺭ ﻓﻲ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺎﻝﻲ ﻜﻜل ﻭﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺼﺭﻓﻲ ﺒﺸﻜل ﺨﺎﺹ ﺃﻻ ﻭﻫﻲ ﺍﻝﺤﻭﻜﻤﺔ ،ﺤﻴﺙ ﺴﻨﺘﻁﺭﻕ ﻝﻠﻌﺩﻴﺩ ﻤﻥ ﺍﻝﻨﻘﺎﻁ ﺍﻝﻤﺘﻌﻠﻘﺔ ﺒﺎﻝﺤﻭﻜﻤﺔ ﺒﺼﻔﺔ ﻋﺎﻤﺔ ﻭﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﺒﻨﻭﻙ ﺒﺼﻔﺔ ﺨﺎﺼﺔ ،ﻜﻤﺎ ﺴﻨﺘﻨﺎﻭل ﻭﺍﻗﻊ ﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﺠﻬﺎﺯ ﺍﻝﻤﺼﺭﻓﻲ ﺍﻝﺠﺯﺍﺌﺭﻱ ،ﻭﺃﺨﻴﺭﺍ ﻤﺴﺘﺠﺩﺍﺕ ﺍﻷﺯﻤﺔ ﺍﻝﻤﺎﻝﻴﺔ ﺍﻝﻌﺎﻝﻤﻴﺔ ﻭﺍﻝﺤﻭﻜﻤﺔ. ﺍﻝﻜﻠﻤﺎﺕ ﺍﻝﻤﻔﺘﺎﺤﻴﺔ: ﺍﻝﺤﻭﻜﻤﺔ ،ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺼﺭﻓﻲ ،ﺍﻝﺒﻨﻭﻙ ،ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺎﻝﻲ ،ﺍﻝﺠﻬﺎﺯ ﺍﻝﻤﺼﺭﻓﻲ ﺍﻝﺠﺯﺍﺌﺭﻱ ،ﺍﺘﻔﺎﻗﻴﺎﺕ ﺒﺎﺯل ،ﺍﻷﺯﻤﺔ ﺍﻝﻤﺎﻝﻴﺔ ﺍﻝﻌﺎﻝﻤﻴﺔ. Abstract: The banking system is the corner stone of the financial system, and the stability of the later is dependent on the former. Among the causes of the banking system instability is the globalization of financial market, emerging of financial innovations in manner which held to the inefficiency of the traditional tools. This paper aim to discuss the modern tools used to maintain the stability of the financial system as whole, and particularly the banking system, this tool is the governance. We’ll talk about the different points of the banking system’s governance in Algeria. Key words: Governance, banking system, banks, financial system, Algerian banking system, Basel committee, international financial crisis.
ﻤﻘﺩﻤﺔ: ﻴﻌﺘﺒﺭ ﺍﻝﻨﻅﺎﻡ ﺃﻭ ﺍﻝﺠﻬﺎﺯ ﺍﻝﻤﺼﺭﻓﻲ ﺃﺤﺩ ﺃﻫﻡ ﺍﻷﺠﺯﺍﺀ ﻓﻲ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺎﻝﻲ ،ﻭﺇﻥ ﺍﺴﺘﻘﺭﺍﺭ ﻫﺫﺍ ﺍﻷﺨﻴﺭ ﻤﺭﺘﺒﻁ ﺍﺭﺘﺒﺎﻁﺎ ﻭﺜﻴﻘﺎ ﺒﺘﺤﻘﻴﻕ ﺍﻻﺴﺘﻘﺭﺍﺭ ﻓﻲ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺼﺭﻓﻲ .ﻭﻤﻥ ﺒﻴﻥ ﺍﻷﺴﺒﺎﺏ ﺍﻝﺘﻲ ﺃﺩﺕ ﺇﻝﻰ ﻋﺩﻡ ﺍﺴﺘﻘﺭﺍﺭ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺼﺭﻓﻲ ﻫﻭ ﻋﻭﻝﻤﺔ ﺍﻷﺴﻭﺍﻕ ﺍﻝﻤﺎﻝﻴﺔ ﻭﻅﻬﻭﺭ ﺍﻝﻜﺜﻴﺭ ﻤﻥ ﺍﻻﺒﺘﻜﺎﺭﺍﺕ ﺍﻝﻤﺎﻝﻴﺔ ﺍﻝﺘﻲ ﺃﺩﺕ ﺇﻝﻰ ﺍﻝﺤﺩ ﻤﻥ ﻓﻌﺎﻝﻴﺔ ﺍﻷﺩﻭﺍﺕ ﺍﻝﺘﻘﻠﻴﺩﻴﺔ ﺍﻝﻬﺎﺩﻓﺔ ﺇﻝﻰ ﻀﻤﺎﻥ ﺍﻻﺴﺘﻘﺭﺍﺭ ﻓﻲ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺼﺭﻓﻲ .ﻭﺘﻌﺘﺒﺭ ﺍﻝﺤﻭﻜﻤﺔ ﻤﻥ ﺒﻴﻥ ﺍﻵﻝﻴﺎﺕ ﻭﺍﻝﻭﺴﺎﺌل ﺍﻝﺤﺩﻴﺜﺔ ﺍﻝﻬﺎﻤﺔ ﺍﻝﺘﻲ ﺘﻬﺩﻑ ﺇﻝﻰ ﺍﻝﺤﻔﺎﻅ ﻭﻀﻤﺎﻥ ﺍﻻﺴﺘﻘﺭﺍﺭ ﻓﻲ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺎﻝﻲ ﻜﻜل ﻭﺍﻝﻤﺼﺭﻓﻲ ﺒﺸﻜل ﺨﺎﺹ. ﻭﻝﻘﺩ ﺘﻌﺎﻅﻡ ﺍﻻﻫﺘﻤﺎﻡ ﺒﺎﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﻌﺩﻴﺩ ﻤﻥ ﺍﻻﻗﺘﺼﺎﺩﻴﺎﺕ ﺍﻝﻤﺘﻘﺩﻤﺔ ﻭﺍﻝﻨﺎﻤﻴﺔ ﺨﻼل ﺍﻝﻌﻘﻭﺩ ﺍﻝﻘﻠﻴﻠﺔ ﺍﻝﻤﺎﻀﻴﺔ ،ﻭﺨﺎﺼﺔ ﻓﻲ ﺃﻋﻘﺎﺏ ﺍﻻﻨﻬﻴﺎﺭﺍﺕ ﺍﻝﻤﺎﻝﻴﺔ ﻭﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﺍﻝﺘﻲ ﺸﻬﺩﺘﻬﺎ ﺩﻭل ﺸﺭﻕ ﺁﺴﻴﺎ ﻭﺃﻤﺭﻴﻜﺎ ﺍﻝﻼﺘﻴﻨﻴﺔ ﻭﺭﻭﺴﻴﺎ ﻓﻲ ﺍﻝﺘﺴﻌﻴﻨﻴﺎﺕ ﻤﻥ ﺍﻝﻘﺭﻥ ﺍﻝﻌﺸﺭﻴﻥ ،ﻭﻜﺫﻝﻙ ﻤﺎ ﺸﻬﺩﻩ ﺍﻻﻗﺘﺼﺎﺩ ﺍﻷﻤﺭﻴﻜﻲ ﻤﻥ ﺘﺩﺍﻋﻴﺎﺕ ﺍﻻﻨﻬﻴﺎﺭﺍﺕ ﺍﻝﻤﺎﻝﻴﺔ ﻝﻌﺩﺩ ﻤﻥ ﺃﻗﻁﺎﺏ ﺍﻝﺸﺭﻜﺎﺕ ﺍﻷﻤﺭﻴﻜﻴﺔ ﺨﻼل ﺴﻨﺔ ،2002ﻭﻤﺎ ﻴﺸﻬﺩﻩ ﺍﻝﻌﺎﻝﻡ ﺤﺎﻝﻴﺎ ﻤﻥ ﺘﺩﺍﻋﻴﺎﺕ ﺍﻷﺯﻤﺔ ﺍﻝﻤﺎﻝﻴﺔ ﺍﻝﻌﺎﻝﻤﻴﺔ ﻭﺍﻝﺘﻲ ﺍﻨﻁﻠﻘﺕ ﺸﺭﺍﺭﺘﻬﺎ ﺍﻷﻭﻝﻰ ﻤﻥ ﺍﻝﻭﻻﻴﺎﺕ ﺍﻝﻤﺘﺤﺩﺓ ﺍﻷﻤﺭﻴﻜﻴﺔ. ﺇﺸﻜﺎﻝﻴﺔ ﺍﻝﺒﺤﺙ: ﺇﻥ ﺍﻻﻫﺘﻤﺎﻡ ﺍﻝﻜﺒﻴﺭ ﺒﺤﻭﻜﻤﺔ ﺍﻝﺸﺭﻜﺎﺕ ﻓﻲ ﺍﻝﻌﺩﻴﺩ ﻤﻥ ﺍﻻﻗﺘﺼﺎﺩﻴﺎﺕ ﺍﻝﻤﺘﻘﺩﻤﺔ ﻤﻨﻬﺎ ﻭﺍﻝﻨﺎﺸﺌﺔ ﻓﻲ ﻨﻬﺎﻴﺔ ﺍﻝﻘﺭﻥ ﺍﻝﻤﺎﻀﻲ ﻭﺒﺩﺍﻴﺔ ﺍﻝﻘﺭﻥ ﺍﻝﺤﺎﻝﻲ ،ﻭﺨﺎﺼﺔ ﻓﻲ ﺃﻋﻘﺎﺏ ﺍﻻﻨﻬﻴﺎﺭﺍﺕ ﺍﻝﻤﺎﻝﻴﺔ ﻭﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﺍﻝﺘﻲ ﺸﻬﺩﻫﺎ ﺍﻻﻗﺘﺼﺎﺩ ﺍﻝﻌﺎﻝﻤﻲ ﺒﺼﻔﺔ ﻋﺎﻤﺔ ،ﻭﻤﺎ ﻴﺸﻬﺩﻩ ﺍﻝﻌﺎﻝﻡ ﺍﻝﻴﻭﻡ ﻤﻥ ﺨﻼل ﺍﻷﺯﻤﺔ ﺍﻝﻤﺎﻝﻴﺔ ﺍﻝﺘﻲ ﺍﻨﻁﻠﻘﺕ ﺸﺭﺍﺭﺘﻬﺎ ﺍﻷﻭﻝﻰ ﻤﻥ ﺍﻝﻭﻻﻴﺎﺕ ﺍﻝﻤﺘﺤﺩﺓ ﺍﻷﻤﺭﻴﻜﻴﺔ ،ﻭﺍﻝﺘﻲ ﺒﺩﺃﺕ ﺘﺘﺤﻭل ﺇﻝﻰ ﺃﺯﻤﺔ ﺍﻗﺘﺼﺎﺩﻴﺔ ﻁﺎﻝﺕ ﺘﺩﺍﻋﻴﺎﺘﻬﺎ ﻤﻌﻅﻡ ﺩﻭل ﺍﻝﻌﺎﻝﻡ. 2
ﻭﻨﻅﺭﺍ ﻝﻤﺎ ﺭﺃﻴﻨﺎﻩ ﻤﻥ ﺇﻓﻼﺱ ﻝﻠﻌﺩﻴﺩ ﻤﻥ ﻜﺒﺭﻴﺎﺕ ﺍﻝﺒﻨﻭﻙ ﺍﻷﻤﺭﻴﻜﻴﺔ ﻭﺍﻷﻭﺭﺒﻴﺔ ﺘﺄﺜﺭﺍ ﺒﺎﻷﺯﻤﺔ ﺍﻝﻤﺎﻝﻴﺔ ،ﻓﺈﻥ ﺫﻝﻙ ﻴﻘﻭﺩﻨﺎ ﻝﻠﺤﺩﻴﺙ ﻋﻥ ﺩﻭﺭ ﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺼﺭﻓﻲ ﺒﺎﻋﺘﺒﺎﺭ ﺃﻥ ﺴﻼﻤﺔ ﻭﺍﺴﺘﻘﺭﺍﺭ ﻫﺫﺍ ﺍﻷﺨﻴﺭ ﻴﻌﺘﺒﺭ ﺃﺤﺩ ﺍﻝﺭﻜﺎﺌﺯ ﺍﻷﺴﺎﺴﻴﺔ ﻝﺴﻼﻤﺔ ﺴﻭﻕ ﺍﻷﻭﺭﺍﻕ ﺍﻝﻤﺎﻝﻴﺔ ﻭﻗﻁﺎﻉ ﺍﻝﺸﺭﻜﺎﺕ ﻭﺍﻻﻗﺘﺼﺎﺩ ﺒﺼﻔﺔ ﻋﺎﻤﺔ .ﻭﻤﻥ ﻫﻨﺎ ﺘﻨﺒﺜﻕ ﺇﺸﻜﺎﻝﻴﺔ ﺒﺤﺜﻨﺎ ﻭﺍﻝﺘﻲ ﻨﺼﻭﻏﻬﺎ ﺒﺎﻝﺸﻜل ﺍﻝﺘﺎﻝﻲ :ﻤﺎ ﻫﻭ ﺩﻭﺭ ﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﺴﺘﻘﺭﺍﺭ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺼﺭﻓﻲ ﻓﻲ ﻅل ﺍﻷﺯﻤﺔ ﺍﻝﻤﺎﻝﻴﺔ ﺍﻝﺘﻲ ﻴﺸﻬﺩﻫﺎ ﺍﻝﻌﺎﻝﻡ؟ ﺃﻫﻤﻴﺔ ﻭﺃﻫﺩﺍﻑ ﺍﻝﺒﺤﺙ: ﻴﻜﺘﺴﻲ ﻤﻭﻀﻭﻉ ﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﺒﻨﻭﻙ ﺃﻫﻤﻴﺔ ﻜﺒﻴﺭﺓ ﺨﺎﺼﺔ ﻓﻲ ﺃﻋﻘﺎﺏ ﺍﻻﻨﻬﻴﺎﺭﺍﺕ ﺍﻝﺘﻲ ﻋﺎﻨﻰ ﻭﻴﻌﺎﻨﻲ ﻤﻨﻬﺎ ﺍﻝﻘﻁﺎﻉ ﺍﻝﻤﺎﻝﻲ ﻭﺍﻝﻤﺼﺭﻓﻲ ﻓﻲ ﺍﻝﻌﺎﻝﻡ ،ﻭﺒﺎﻷﺨﺹ ﺍﻷﺯﻤﺔ ﺍﻝﻤﺎﻝﻴﺔ ﺍﻝﺤﺎﻝﻴﺔ ﻭﺍﻝﺘﻲ ﻋﺭﻓﺕ ﺒﺄﺯﻤﺔ ﺍﻝﺭﻫﻥ ﺍﻝﻌﻘﺎﺭﻱ ﺒﺎﻝﻭﻻﻴﺎﺕ ﺍﻝﻤﺘﺤﺩﺓ ﺍﻷﻤﺭﻴﻜﻴﺔ. ﻭﻤﻥ ﻫﺫﺍ ﺍﻝﻤﻨﻁﻠﻕ ،ﻴﻬﺩﻑ ﺒﺤﺜﻨﺎ ﺇﻝﻰ ﺘﺴﻠﻴﻁ ﺍﻝﻀﻭﺀ ﻋﻠﻰ ﻤﻔﻬﻭﻡ ﺍﻝﺤﻭﻜﻤﺔ ﺒﺼﻔﺔ ﻋﺎﻤﺔ ﻭﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﺒﻨﻭﻙ ﺒﺼﻔﺔ ﺨﺎﺼﺔ ﻜﺒﺩﻴل ﺤﺩﻴﺙ ﻝﺘﻔﺎﺩﻱ ﺍﻷﺯﻤﺎﺕ ﻭﺍﻻﻨﻬﻴﺎﺭﺍﺕ ﺍﻝﻤﺎﻝﻴﺔ ﺃﻭ ﻋﻠﻰ ﺍﻷﻗل ﺍﻝﺘﻘﻠﻴل ﻤﻥ ﺤﺩﺘﻬﺎ ﻋﻠﻰ ﺍﻝﻘﻁﺎﻉ ﺍﻝﻤﺼﺭﻓﻲ ﻭﺍﻝﻤﺎﻝﻲ ،ﺒﺎﻹﻀﺎﻓﺔ ﺇﻝﻰ ﻤﻌﺭﻓﺔ ﺩﻭﺭ ﻭﺃﻫﻤﻴﺔ ﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﺴﺘﻘﺭﺍﺭ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺼﺭﻓﻲ ﻜﺠﺯﺀ ﻤﻥ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺎﻝﻲ ،ﺤﻴﺙ ﺃﻥ ﺍﺴﺘﻘﺭﺍﺭ ﻫﺫﺍ ﺍﻷﺨﻴﺭ ﻤﺭﺘﺒﻁ ﺍﺭﺘﺒﺎﻁﺎ ﻭﺜﻴﻘﺎ ﺒﺎﺴﺘﻘﺭﺍﺭ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺼﺭﻓﻲ .ﻜﻤﺎ ﻴﻬﺩﻑ ﺍﻝﺒﺤﺙ ﺇﻝﻰ ﻤﻌﺭﻓﺔ ﻭﺍﻗﻊ ﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﺠﻬﺎﺯ ﺍﻝﻤﺼﺭﻓﻲ ﺍﻝﺠﺯﺍﺌﺭﻱ ،ﻭﺍﻝﺨﻁﻭﺍﺕ ﺃﻭ ﺍﻝﺒﺭﺍﻤﺞ ﺍﻝﺘﻲ ﺍﻋﺘﻤﺩﺘﻬﺎ ﺍﻝﺠﺯﺍﺌﺭ ﻓﻲ ﻤﺠﺎل ﺍﻝﺤﻭﻜﻤﺔ ﻋﻠﻰ ﻤﺴﺘﻭﻯ ﺍﻝﻘﻁﺎﻉ ﺍﻝﻤﺼﺭﻓﻲ. ﻤﺤﺎﻭﺭ ﺍﻝﺒﺤﺙ: ﻝﻺﺠﺎﺒﺔ ﻋﻠﻰ ﺇﺸﻜﺎﻝﻴﺔ ﺒﺤﺜﻨﺎ ،ﺴﻭﻑ ﻨﺘﻨﺎﻭل ﻓﻲ ﻫﺫﻩ ﺍﻝﻤﺩﺍﺨﻠﺔ ﺍﻝﻤﺤﺎﻭﺭ ﺍﻝﺭﺌﻴﺴﻴﺔ ﺍﻝﺘﺎﻝﻴﺔ: ﺃﻭﻻ :ﻤﻔﻬﻭﻡ ﺍﻝﺤﻭﻜﻤﺔ ﻭﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﻤﺼﺎﺭﻑ. ﺜﺎﻨﻴﺎ :ﻤﺤﺩﺩﺍﺕ ﺍﻝﺤﻭﻜﻤﺔ ﻭﻤﻌﺎﻴﻴﺭﻫﺎ. ﺜﺎﻝﺜﺎ :ﺃﻫﻤﻴﺔ ﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﺠﻬﺎﺯ ﺍﻝﻤﺼﺭﻓﻲ ﻭﺍﻝﻬﺩﻑ ﻤﻨﻬﺎ. ﺭﺍﺒﻌﺎ :ﻭﺍﻗﻊ ﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﺠﻬﺎﺯ ﺍﻝﻤﺼﺭﻓﻲ ﺍﻝﺠﺯﺍﺌﺭﻱ. ﺨﺎﻤﺴﺎ :ﻤﺴﺘﺠﺩﺍﺕ ﺍﻷﺯﻤﺔ ﺍﻝﻤﺎﻝﻴﺔ ﺍﻝﻌﺎﻝﻤﻴﺔ ﻭﺍﻝﺤﻭﻜﻤﺔ.ﺃﻭﻻ :ﻤﻔﻬﻭﻡ ﺍﻝﺤﻭﻜﻤﺔ ﻭﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﻤﺼﺎﺭﻑ. ﻨﻅﺭﺍ ﻝﻼﻫﺘﻤﺎﻡ ﺍﻝﻤﺘﺯﺍﻴﺩ ﺒﻤﻔﻬﻭﻡ ﺍﻝﺤﻭﻜﻤﺔ ﺨﺎﺼﺔ ﺒﻌﺩ ﺍﻻﻨﻬﻴﺎﺭﺍﺕ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﻭﺍﻝﻤﺎﻝﻴﺔ ﺍﻝﺘﻲ ﺸﻬﺩﺘﻬﺎ ﻋﺩﺩ ﻤﻥ ﺩﻭل ﺸﺭﻕ ﺁﺴﻴﺎ ﻭﺃﻤﺭﻴﻜﺎ ﺍﻝﻼﺘﻴﻨﻴﺔ ﻭﺭﻭﺴﻴﺎ ﻓﻲ ﺍﻝﺘﺴﻌﻴﻨﺎﺕ ﻤﻥ ﺍﻝﻘﺭﻥ ﺍﻝﻤﺎﻀﻲ ،ﻭﻜﺫﻝﻙ ﻤﺎﺸﻬﺩﻩ ﺍﻻﻗﺘﺼﺎﺩ ﺍﻷﻤﺭﻴﻜﻲ ﻓﻲ ﺒﺩﺍﻴﺔ ﺍﻝﻘﺭﻥ ﺍﻝﺤﺎﻝﻲ ،ﻓﻘﺩ ﺤﺭﺼﺕ ﺍﻝﻌﺩﻴﺩ ﻤﻥ ﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻝﺩﻭﻝﻴﺔ ﻋﻠﻰ ﺩﺭﺍﺴﺔ ﻫﺫﺍ ﺍﻝﻤﻔﻬﻭﻡ ﻭﺘﺤﻠﻴﻠﻪ. ﺘﻌﺭﻴﻑ ﺍﻝﺤﻭﻜﻤﺔ: ﺇﻥ ﻤﺼﻁﻠﺢ ﺍﻝﺤﻭﻜﻤﺔ ﻫﻭ ﺍﻝﺘﺭﺠﻤﺔ ﺍﻝﻤﺨﺘﺼﺭﺓ ﻝﻠﻤﺼﻁﻠﺢ " ، "Corporate governanceﺃﻤﺎ 1 ﺍﻝﺘﺭﺠﻤﺔ ﺍﻝﻌﻠﻤﻴﺔ ﺍﻝﻤﺘﻔﻕ ﻋﻠﻴﻬﺎ ﻫﻲ " :ﺃﺴﻠﻭﺏ ﻤﻤﺎﺭﺴﺔ ﺴﻠﻁﺎﺕ ﺍﻹﺩﺍﺭﺓ ﺍﻝﺭﺸﻴﺩﺓ". ﻭﻫﻨﺎﻙ ﻋﺩﺓ ﺘﻌﺭﻴﻔﺎﺕ ﻝﻠﺤﻭﻜﻤﺔ ﻗﺩﻤﺘﻬﺎ ﻤﺅﺴﺴﺎﺕ ﺩﻭﻝﻴﺔ ﻤﺨﺘﺼﺔ ﻨﻠﺨﺼﻬﺎ ﻓﻲ ﺍﻵﺘﻲ: ﻋ ﺭﻓﺕ ﻤﻨﻅﻤﺔ ﺍﻝﺘﻌﺎﻭﻥ ﺍﻻﻗﺘﺼﺎﺩﻱ ﻭﺍﻝﺘﻨﻤﻴﺔ OCDEﺍﻝﺤﻭﻜﻤﺔ ﻋﻠﻰ ﺃﻨﻬﺎ ":ﻨﻅﺎﻡ ﻴﺘﻡ ﺒﻭﺍﺴﻁﺘﻪ ﺘﻭﺠﻴﻪ ﻤﻨﻅﻤﺎﺕ ﺍﻷﻋﻤﺎل ﻭﺍﻝﺭﻗﺎﺒﺔ ﻋﻠﻴﻬﺎ ،ﺤﻴﺙ ﺘﺤﺩﺩ ﻫﻴﻜل ﻭﺇﻁﺎﺭ ﺘﻭﺯﻴﻊ ﺍﻝﻭﺍﺠﺒﺎﺕ ﻭﺍﻝﻤﺴﺅﻭﻝﻴﺎﺕ ﺒﻴﻥ ﺍﻝﻤﺸﺎﺭﻜﻴﻥ ﻓﻲ ﺍﻝﺸﺭﻜﺔ ﻤﺜل ﻤﺠﻠﺱ ﺍﻹﺩﺍﺭﺓ ﻭﺍﻝﻤﺩﻴﺭﻴﻥ ﻭﻏﻴﺭﻫﻡ ﻤﻥ ﺃﺼﺤﺎﺏ ﺍﻝﻤﺼﺎﻝﺢ ،ﻭﺘﻀﻊ ﺍﻝﻘﻭﺍﻋﺩ 2 ﻭﺍﻷﺤﻜﺎﻡ ﻻﺘﺨﺎﺫ ﺍﻝﻘﺭﺍﺭﺍﺕ ﺍﻝﻤﺘﻌﻠﻘﺔ ﺒﺸﺅﻭﻥ ﺍﻝﺸﺭﻜﺔ ". ﻜﻤﺎ ﻋ ﺭﻓﺘﻬﺎ ﻤﺅﺴﺴﺔ ﺍﻝﺘﻤﻭﻴل ﺍﻝﺩﻭﻝﻴﺔ ﻋﻠﻰ ﺃﻨﻬﺎ ":ﺍﻝﻨﻅﺎﻡ ﺍﻝﺫﻱ ﻴﺘﻡ ﻤﻥ ﺨﻼﻝﻪ ﺇﺩﺍﺭﺓ ﺍﻝﺸﺭﻜﺎﺕ 3 ﻭﺍﻝﺘﺤﻜﻡ ﻓﻲ ﺃﻋﻤﺎﻝﻬﺎ". ﻭﻗﺩ ﻋ ﺭﻑ ﺍﻝﻤﺠﻤﻊ ﺍﻝﻌﺭﺒﻲ ﻝﻠﻤﺤﺎﺴﺒﻴﻥ ﺍﻝﻘﺎﻨﻭﻨﻴﻴﻥ ﺍﻝﺤﻭﻜﻤﺔ ﻋﻠﻰ ﺃﻨﻬﺎ ":ﻤﺠﻤﻭﻋﺔ ﻤﻥ ﺍﻝﻤﺴﺅﻭﻝﻴﺎﺕ ﻭﺍﻝﻤﻤﺎﺭﺴﺎﺕ ﺍﻝﺘﻲ ﻴﺘﺒﻌﻬﺎ ﻤﺠﻠﺱ ﺍﻹﺩﺍﺭﺓ ﻭﺍﻹﺩﺍﺭﺓ ﺍﻝﺘﻨﻔﻴﺫﻴﺔ ﺒﻬﺩﻑ ﺘﻘﺩﻴﻡ ﺘﻭﺠﻴﻪ ﺍﺴﺘﺭﺍﺘﻴﺠﻲ ﻭﻀﻤﺎﻥ ﺘﺤﻘﻴﻕ 4 ﺍﻷﻫﺩﺍﻑ ،ﻭﺍﻝﺘﺤﻘﻕ ﻤﻥ ﺇﺩﺍﺭﺓ ﺍﻝﻤﺨﺎﻁﺭ ﺒﺸﻜل ﻤﻼﺌﻡ ،ﻭﺍﺴﺘﻐﻼل ﻤﻭﺍﺭﺩ ﺍﻝﻤﺅﺴﺴﺔ ﻋﻠﻰ ﻨﺤﻭ ﻤﺴﺅﻭل". ﻭﻤﻥ ﺨﻼل ﻫﺫﻩ ﺍﻝﺘﻌﺎﺭﻴﻑ ﻴﺘﺒﻴﻥ ﻝﻨﺎ ﺃﻥ ﺍﻝﺤﻭﻜﻤﺔ ﻫﻲ ﻨﻅﺎﻡ ﻴﻘﺼﺩ ﺒﻪ ﺍﻷﺴﻠﻭﺏ ﺍﻝﺫﻱ ﺘﻤﺎﺭﺱ ﺒﻪ ﺴﻠﻁﺎﺕ ﺍﻹﺩﺍﺭﺓ ﺒﻁﺭﻴﻘﺔ ﺠﻴﺩﺓ ،ﻭﻫﺫﺍ ﺍﻝﻨﻅﺎﻡ ﻫﻭ ﺍﻝﺫﻱ ﻴﺤﻜﻡ ﺍﻝﻌﻼﻗﺎﺕ ﺒﻴﻥ ﺍﻷﻁﺭﺍﻑ ﺍﻷﺴﺎﺴﻴﺔ ﺍﻝﺘﻲ ﺘﺅﺜﺭ ﻓﻲ ﺍﻷﺩﺍﺀ ﺩﺍﺨل ﺃﻱ ﻤﻨﻅﻤﺔ ،ﻜﻤﺎ ﻴﺸﻤل ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﻘﻭﻤﺎﺕ ﺍﻷﺴﺎﺴﻴﺔ ﻝﻨﺠﺎﺡ ﺍﻝﻤﻨﻅﻤﺔ ﻭﺘﻘﻭﻴﺘﻬﺎ ﻋﻠﻰ ﺍﻝﻤﺩﻯ 3
ﺍﻝﺒﻌﻴﺩ ،ﺒﺎﻹﻀﺎﻓﺔ ﺇﻝﻰ ﺘﺤﺩﻴﺩ ﺍﻝﻤﺴﺅﻭﻝﻴﺎﺕ ﺩﺍﺨﻠﻬﺎ ﻭﻀﻤﺎﻥ ﺤﻘﻭﻕ ﺠﻤﻴﻊ ﺍﻷﻁﺭﺍﻑ ﺍﻝﺘﻲ ﻝﻬﺎ ﻋﻼﻗﺔ ﺒﺎﻝﻤﻨﻅﻤﺔ ﻭﺒﻌﺩﺍﻝﺔ. ﺘﻌﺭﻴﻑ ﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﺠﻬﺎﺯ ﺍﻝﻤﺼﺭﻓﻲ: ﺘﺨﺘﻠﻑ ﺍﻝﺒﻨﻭﻙ ﻋﻥ ﺒﺎﻗﻲ ﺍﻝﺸﺭﻜﺎﺕ ﻷﻥ ﺍﻨﻬﻴﺎﺭﻫﺎ ﻴﺅﺜﺭ ﻋﻠﻰ ﻋﺩﺩ ﻜﺒﻴﺭ ﻤﻥ ﺍﻷﻁﺭﺍﻑ ﻤﻘﺎﺭﻨﺔ ﺒﺎﻝﺸﺭﻜﺎﺕ ،ﻜﻤﺎ ﻗﺩ ﻴﺅﺩﻱ ﺇﻝﻰ ﺍﻨﻬﻴﺎﺭ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺎﻝﻲ ﻜﻜل ﻤﻤﺎ ﻴﺅﺩﻱ ﺇﻝﻰ ﺤﺩﻭﺙ ﺃﺯﻤﺔ ﻤﺎﻝﻴﺔ ﻭﺍﻝﺘﻲ ﻗﺩ ﺘﺘﺤﻭل ﺇﻝﻰ ﺃﺯﻤﺔ ﺍﻗﺘﺼﺎﺩﻴﺔ ،ﻭﺒﺎﻝﺘﺎﻝﻲ ﺯﻴﺎﺩﺓ ﺩﺍﺌﺭﺓ ﻋﻭﺍﻗﺒﻬﺎ ﺍﻝﻭﺨﻴﻤﺔ ﻭﺍﻝﺴﻴﺌﺔ ﻋﻠﻰ ﺍﻻﻗﺘﺼﺎﺩ ﺒﺄﺴﺭﻩ. ﻭﻴﻌ ﺭﻑ ﺒﻨﻙ ﺍﻝﺘﺴﻭﻴﺎﺕ ﺍﻝﺩﻭﻝﻴﺔ ﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﻤﺼﺎﺭﻑ ﻋﻠﻰ ﺃﻨﻬﺎ ":ﺍﻷﺴﺎﻝﻴﺏ ﺍﻝﺘﻲ ﺘﺩﺍﺭ ﺒﻬﺎ ﺍﻝﺒﻨﻭﻙ ﻤﻥ ﺨﻼل ﻤﺠﻠﺱ ﺍﻹﺩﺍﺭﺓ ﻭﺍﻹﺩﺍﺭﺓ ﺍﻝﻌﻠﻴﺎ ،ﻭﺍﻝﺘﻲ ﺘﺤﺩﺩ ﻜﻴﻔﻴﺔ ﻭﻀﻊ ﺃﻫﺩﺍﻑ ﺍﻝﺒﻨﻙ ﻭﺍﻝﺘﺸﻐﻴل ﻭﺤﻤﺎﻴﺔ ﻤﺼﺎﻝﺢ ﺍﻝﻤﺴﺎﻫﻤﻴﻥ ﻭﺃﺼﺤﺎﺏ ﺍﻝﻤﺼﺎﻝﺢ ،ﻭﺫﻝﻙ ﻤﻥ ﺨﻼل ﺍﻻﻝﺘﺯﺍﻡ ﺒﺎﻝﻘﻭﺍﻨﻴﻥ ﻭﺍﻝﻨﻅﻡ ﺍﻝﺴﺎﺌﺩﺓ ﺒﻤﺎ ﻴﻀﻤﻥ 5 ﺤﻤﺎﻴﺔ ﺤﻘﻭﻕ ﺍﻝﻤﻭﺩﻋﻴﻥ". 6 ﻜﻤﺎ ﺘﺭﻯ ﺍﻝﺩﻜﺘﻭﺭﺓ ﻫﺎﻝﺔ ﺍﻝﺴﻌﻴﺩ ،ﺃﻥ ﻨﻅﺎﻡ ﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﻤﺼﺎﺭﻑ ﻴﺸﻤل ﺍﻝﻁﺭﻴﻘﺔ ﺍﻝﺘﻲ ﺘﺩﺍﺭ ﺒﻬﺎ ﺸﺅﻭﻥ ﺍﻝﺒﻨﻙ ﻤﻥ ﺨﻼل ﺍﻝﺩﻭﺭ ﺍﻝﻤﻨﻭﻁ ﺒﻪ ﻜل ﻤﻥ ﻤﺠﻠﺱ ﺍﻹﺩﺍﺭﺓ ﻭﺍﻹﺩﺍﺭﺓ ﺍﻝﻌﻠﻴﺎ ،ﺒﻤﺎ ﻴﺅﺜﺭ ﻋﻠﻰ ﺘﺤﺩﻴﺩ ﺃﻫﺩﺍﻑ ﺍﻝﺒﻨﻙ ﻭﻤﺭﺍﻋﺎﺓ ﺤﻘﻭﻕ ﺃﺼﺤﺎﺏ ﺍﻝﻤﺼﺎﻝﺢ ﻭﺤﻤﺎﻴﺔ ﺤﻘﻭﻕ ﺍﻝﻤﻭﺩﻋﻴﻥ. ﺜﺎﻨﻴﺎ :ﻤﺤﺩﺩﺍﺕ ﺍﻝﺤﻭﻜﻤﺔ ﻭﻤﻌﺎﻴﻴﺭﻫﺎ: -1ﻤﺤﺩﺩﺍﺕ ﺍﻝﺤﻭﻜﻤﺔ: ﺇﻥ ﺍﻝﺘﻁﺒﻴﻕ ﺍﻝﺠﻴﺩ ﻝﻠﺤﻭﻜﻤﺔ ﻴﺘﻭﻗﻑ ﻋﻠﻰ ﻤﺠﻤﻭﻋﺘﻴﻥ ﻤﻥ ﺍﻝﻤﺤﺩﺩﺍﺕ :ﻭﻫﻲ ﻤﺤﺩﺩﺍﺕ ﺩﺍﺨﻠﻴﺔ ﻭﻤﺤﺩﺩﺍﺕ ﺨﺎﺭﺠﻴﺔ. ﺃ -ﺍﻝﻤﺤﺩﺩﺍﺕ ﺍﻝﺩﺍﺨﻠﻴﺔ: ﺘﺸﻴﺭ ﻫﺫﻩ ﺍﻝﻤﺤﺩﺩﺍﺕ ﺇﻝﻰ ﺍﻝﻘﻭﺍﻋﺩ ﻭﺍﻷﺴﺱ ﺍﻝﺘﻲ ﺘﺤﺩﺩ ﻜﻴﻔﻴﺔ ﺍﺘﺨﺎﺫ ﺍﻝﻘﺭﺍﺭﺍﺕ ﻭﺘﻭﺯﻴﻊ ﺍﻝﺴﻠﻁﺎﺕ ﺩﺍﺨل ﺍﻝﺸﺭﻜﺔ ﺒﻴﻥ ﺍﻝﺜﻼﺜﺔ ﺃﻁﺭﺍﻑ ﺭﺌﻴﺴﻴﺔ ﻓﻴﻬﺎ ﻭﻫﻲ :ﺍﻝﺠﻤﻌﻴﺔ ﺍﻝﻌﺎﻤﺔ ،ﻤﺠﻠﺱ ﺍﻹﺩﺍﺭﺓ ﻭﺍﻝﻤﺩﻴﺭﻴﻥ ﺍﻝﺘﻨﻔﻴﺫﻴﻴﻥ .ﻭﺘﺭﺠﻊ ﺃﻫﻤﻴﺔ ﻫﺫﻩ ﺍﻝﻤﺤﺩﺩﺍﺕ ﺇﻝﻰ ﺃﻥ ﻭﺠﻭﺩﻫﺎ ﻴﻘﻠل ﺍﻝﺘﻌﺎﺭﺽ ﺒﻴﻥ ﻤﺼﺎﻝﺢ ﻫﺫﻩ ﺍﻷﻁﺭﺍﻑ 7 ﺍﻝﺜﻼﺜﺔ. ﺏ -ﺍﻝﻤﺤﺩﺩﺍﺕ ﺍﻝﺨﺎﺭﺠﻴﺔ: ﺘﺸﻴﺭ ﺍﻝﻤﺤﺩﺩﺍﺕ ﺍﻝﺨﺎﺭﺠﻴﺔ ﻝﻠﺤﻭﻜﻤﺔ ﺇﻝﻰ ﺍﻝﻤﻨﺎﺥ ﺍﻝﻌﺎﻡ ﻝﻼﺴﺘﺜﻤﺎﺭ ﻓﻲ ﺍﻝﺩﻭﻝﺔ ،ﻭﺘﺸﻤل ﻤﺎ ﻴﻠﻲ: ﺍﻝﻘﻭﺍﻨﻴﻥ ﺍﻝﻤﻨﻅﻤﺔ ﻝﻠﻨﺸﺎﻁ ﺍﻻﻗﺘﺼﺎﺩﻱ ﻤﺜل :ﻗﻭﺍﻨﻴﻥ ﺴﻭﻕ ﺍﻝﻤﺎل ﻭﺍﻝﺸﺭﻜﺎﺕ ﻭﺘﻨﻅﻴﻡ ﺍﻝﻤﻨﺎﻓﺴﺔ ﻭﻤﻨﻊﺍﻝﻤﻤﺎﺭﺴﺎﺕ ﺍﻻﺤﺘﻜﺎﺭﻴﺔ ﻭﺍﻹﻓﻼﺱ. ﻜﻔﺎﺀﺓ ﺍﻝﻘﻁﺎﻉ ﺍﻝﻤﺎﻝﻲ ﻓﻲ ﺘﻭﻓﻴﺭ ﺍﻝﺘﻤﻭﻴل ﺍﻝﻼﺯﻡ ﻝﻠﻤﺸﺭﻭﻋﺎﺕ. ﺩﺭﺠﺔ ﺘﻨﺎﻓﺴﻴﺔ ﺃﺴﻭﺍﻕ ﺍﻝﺴﻠﻊ ﻭﻋﻨﺎﺼﺭ ﺍﻹﻨﺘﺎﺝ. ﻜﻔﺎﺀﺓ ﺍﻷﺠﻬﺯﺓ ﻭﺍﻝﻬﻴﺂﺕ ﺍﻝﺭﻗﺎﺒﻴﺔ ﻓﻲ ﺇﺤﻜﺎﻡ ﺍﻝﺭﻗﺎﺒﺔ ﻋﻠﻰ ﺍﻝﺸﺭﻜﺎﺕ ،ﺒﺎﻹﻀﺎﻓﺔ ﺇﻝﻰ ﺍﻝﺠﻤﻌﻴﺎﺕﺍﻝﻤﻬﻨﻴﺔ ﺍﻝﺘﻲ ﺘﻀﻊ ﻤﻴﺜﺎﻕ ﺸﺭﻑ ﻝﻠﻌﺎﻤﻠﻴﻥ ﻓﻲ ﺍﻝﺴﻭﻕ ﻤﺜل ﺍﻝﻤﺭﺍﺠﻌﻴﻥ ﻭﺍﻝﻤﺤﺎﺴﺒﻴﻥ ﻭﺍﻝﻤﺤﺎﻤﻴﻥ ﻭﺍﻝﺸﺭﻜﺎﺕ ﺍﻝﻌﺎﻤﻠﺔ ﻓﻲ ﺴﻭﻕ ﺍﻷﻭﺭﺍﻕ ﺍﻝﻤﺎﻝﻴﺔ ﻭﻏﻴﺭﻫﺎ ،ﺒﺎﻹﻀﺎﻓﺔ ﺇﻝﻰ ﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻝﺨﺎﺼﺔ. ﻭﺘﺭﺠﻊ ﺃﻫﻤﻴﺔ ﺍﻝﻤﺤﺩﺩﺍﺕ ﺍﻝﺨﺎﺭﺠﻴﺔ ﻝﻜﻭﻥ ﻭﺠﻭﺩﻫﺎ ﻴﻀﻤﻥ ﺘﻨﻔﻴﺫ ﺍﻝﻘﻭﺍﻋﺩ ﻭﺍﻝﻘﻭﺍﻨﻴﻥ ﺍﻝﺘﻲ ﺘﻀﻤﻥ ﺤﺴﻥ ﺇﺩﺍﺭﺓ ﺍﻝﺸﺭﻜﺔ ،ﻭﺍﻝﺘﻲ ﺘﻘﻠل ﻤﻥ ﺍﻝﺘﻌﺎﺭﺽ ﺒﻴﻥ ﺍﻝﻌﺎﺌﺩ ﺍﻻﺠﺘﻤﺎﻋﻲ ﻝﻠﺸﺭﻜﺔ ﻭﺍﻝﻌﺎﺌﺩ ﺍﻝﺨﺎﺹ 8 ﻝﻬﺎ. ﻭﻴﻤﻜﻥ ﺃﻥ ﻨﻠﺨﺹ ﻫﺫﻩ ﺍﻝﻤﺤﺩﺩﺍﺕ ﺍﻝﺩﺍﺨﻠﻴﺔ ﻭﺍﻝﺨﺎﺭﺠﻴﺔ ﻓﻲ ﺍﻝﺸﻜل ﺍﻝﺘﺎﻝﻲ:
4
ﺍﻝﺸﻜل ﺭﻗﻡ ) :(1ﺍﻝﻤﺤﺩﺩﺍﺕ ﺍﻝﺨﺎﺭﺠﻴﺔ ﻭﺍﻝﺩﺍﺨﻠﻴﺔ ﻝﻠﺤﻭﻜﻤﺔ. ﺍﻝﻤﺤﺩﺩﺍﺕ ﺍﻝﺨﺎﺭﺠﻴﺔ ﺘﻨﻅﻴﻤﻴﺔ : L =9
• ا 7 A • ا ا =: • أ Eى
ﺍﻝﻤﺤﺩﺩﺍﺕ ﺍﻝﺩﺍﺨﻠﻴﺔ ﺨﺎﺼﺔ
ا ه 4ن
أ Aب ا D C
T."9اKدارة
ا 4ا ; وا 4ا ﻴﻌﻴﻥ ﻭﻴﺭﺍﻗﺏ
ا ع ا :
• 8وض • 9ه < رأس ا ل ا4 Rاق: • < ا4 Rاق • ا ! Iر أ 7 : S 79 • ا . J 8 ا آ ت
9ت :* E • 47 A9ن و 9ا4=:ن • 49 A9ن • H Cا'! • 4 Jك ا ! Iر • ا ! رات • 9 & .A • ا$ Kم ا
ﻴﺭﻓﻊ ﺘﻘﺭﻴﺭ ﺇﻝﻰ
اKدارة ﺘﻘﻭﻡ
ا H' U4ا '
* ا ت ا إ ا ع ا ص ،وآ ت ا%دارة ا (ا ،وو '& ا$ %م ،وا "! ا .و - . ا " 2ت ا ! ;9 &.م 4ا< ا = 94.ت ،و < ;9در 9 :ا 78ا آ ت ،و .ا 46ء .ا 4.ك ا 2! %زي /دارة.
ﺍﻝﻤﺼﺩﺭ :ﻤﺤﻤﺩ ﺤﺴﻥ ﻴﻭﺴﻑ ،ﻤﺤﺩﺩﺍﺕ ﺍﻝﺤﻭﻜﻤﺔ ﻭﻤﻌﺎﻴﻴﺭﻫﺎ ،ﺒﻨﻙ ﺍﻻﺴﺘﺜﻤﺎﺭ ﺍﻝﺩﻭﻝﻲ .ﻴﻭﻨﻴﻭ .2007ﻤﻘﺎل ﻤﺘﺎﺡ ﻋﻠﻰ ﺍﻝﻤﻭﻗﻊ ﺍﻻﻝﻜﺘﺭﻭﻨﻲhttp://www.saaid.net/doat/hasn/hawkama.doc : -2ﻤﻌﺎﻴﻴﺭ ﺍﻝﺤﻭﻜﻤﺔ: ﺇﻥ ﺍﻻﻫﺘﻤﺎﻡ ﺍﻝﻤﺘﺯﺍﻴﺩ ﺒﺎﻝﺤﻭﻜﻤﺔ ﺠﻌل ﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻝﻔﺎﻋﻠﺔ ﻓﻲ ﻫﺫﺍ ﺍﻝﻤﻴﺩﺍﻥ ﺘﻭﻀﻊ ﻝﻬﺎ ﻤﻌﺎﻴﻴﺭ ﻤﻥ ﺃﺠل ﺍﻝﺘﻁﺒﻴﻕ ﺍﻝﺴﻠﻴﻡ ،ﻭﺒﺎﻝﺘﺎﻝﻲ ﺘﺤﻘﻴﻕ ﺍﻷﻫﺩﺍﻑ ﺍﻝﻤﺭﺠﻭﺓ ﻤﻨﻬﺎ .ﻓﻘﺩ ﺘﻭﺼﻠﺕ ﻤﻨﻅﻤﺔ ﺍﻝﺘﻌﺎﻭﻥ ﺍﻻﻗﺘﺼﺎﺩﻱ ﻭﺍﻝﺘﻨﻤﻴﺔ ﻓﻲ ﻋﺎﻡ 1999ﺇﻝﻰ ﻭﻀﻊ ﺨﻤﺴﺔ ﻤﻌﺎﻴﻴﺭ ﺘﺨﺹ ﺤﻭﻜﻤﺔ ﺍﻝﺸﺭﻜﺎﺕ ﺒﺼﻔﺔ ﻋﺎﻤﺔ ،ﻭﻗﺩ ﺃﺩﺨﻠﺕ 9 ﻋﻠﻴﻬﺎ ﺘﻌﺩﻴﻼﺕ ﺴﻨﺔ 2004ﺤﻴﺙ ﺃﺼﺒﺤﺕ ﺴﺘﺔ ﻤﻌﺎﻴﻴﺭ ﻭﻨﻠﺨﺼﻬﺎ ﻓﻴﻤﺎ ﻴﻠﻲ: • ﻀﻤﺎﻥ ﻭﺠﻭﺩ ﺃﺴﺎﺱ ﻝﻨﻅﺎﻡ ﻓﻌﺎل ﻝﺤﻭﻜﻤﺔ ﺍﻝﺸﺭﻜﺎﺕ :ﻭﻴﺘﻀﻤﻥ ﻫﺫﺍ ﺍﻝﻤﻌﻴﺎﺭ ﺃﻥ ﻴﺴﺎﻫﻡ ﻨﻅﺎﻡ ﺤﻭﻜﻤﺔ ﺍﻝﺸﺭﻜﺎﺕ ﻓﻲ ﺘﺤﻘﻴﻕ ﺍﻝﺸﻔﺎﻓﻴﺔ ﻭﻜﻔﺎﺀﺓ ﺍﻷﺴﻭﺍﻕ ،ﻜﻤﺎ ﻴﺠﺏ ﺃﻥ ﻴﻜﻭﻥ ﻤﺘﻨﺎﺴﻘﺎ ﻤﻊ ﺃﺤﻜﺎﻡ ﺍﻝﻘﺎﻨﻭﻥ ،ﻭﺃﻥ ﻴﺼﻴﻎ ﺒﻭﻀﻭﺡ ﺘﻘﻴﻴﻡ ﺍﻝﻤﺴﺅﻭﻝﻴﺎﺕ ﻤﻊ ﺍﻝﻬﻴﺂﺕ ﺍﻝﻤﺘﺨﺼﺼﺔ :ﺍﻹﺸﺭﺍﻑ ،ﺍﻝﺘﻨﻅﻴﻡ، ﺍﻝﺘﻨﻔﻴﺫ ﻭﺍﻝﺭﻗﺎﺒﺔ. • ﺤﻔﻅ ﺤﻘﻭﻕ ﺠﻤﻴﻊ ﺍﻝﻤﺴﺎﻫﻤﻴﻥ. • ﺍﻝﻤﻌﺎﻤﻠﺔ ﺍﻝﻤﺘﺴﺎﻭﻴﺔ ﺒﻴﻥ ﺠﻤﻴﻊ ﺍﻝﻤﺴﺎﻫﻤﻴﻥ. • ﺍﻹﻓﺼﺎﺡ ﻭﺍﻝﺸﻔﺎﻓﻴﺔ :ﻭﻴﺸﻤل ﺍﻹﻓﺼﺎﺡ ﻋﻥ ﺍﻝﻤﻌﻠﻭﻤﺎﺕ ﺍﻝﻬﺎﻤﺔ ﻭﺩﻭﺭ ﻤﺭﺍﻗﺏ ﺍﻝﺤﺴﺎﺒﺎﺕ ﻓﻲ ﺍﻝﺸﺭﻜﺔ ،ﻭﻴﺘﻡ ﺍﻹﻓﺼﺎﺡ ﻋﻥ ﺍﻝﻤﻌﻠﻭﻤﺎﺕ ﺒﻜل ﺸﻔﺎﻓﻴﺔ ﻭﺒﻁﺭﻴﻘﺔ ﻋﺎﺩﻝﺔ ﺒﻴﻥ ﺠﻤﻴﻊ ﺍﻝﻤﺴﺎﻫﻤﻴﻥ ﻭﺃﺼﺤﺎﺏ ﺍﻝﻤﺼﺎﻝﺢ ﻭﻓﻲ ﺍﻝﻭﻗﺕ ﺍﻝﻤﻨﺎﺴﺏ. • ﻤﺴﺅﻭﻝﻴﺎﺕ ﻤﺠﻠﺱ ﺇﺩﺍﺭﺓ ﺍﻝﺸﺭﻜﺔ :ﻭﻴﺸﻤل ﻫﺫﺍ ﺍﻝﻤﻌﻴﺎﺭ ﻫﻴﻜل ﻤﺠﻠﺱ ﺍﻹﺩﺍﺭﺓ ﻭﻭﺍﺠﺒﺎﺘﻪ ﺍﻝﻘﺎﻨﻭﻨﻴﺔ، ﻭﻜﻴﻔﻴﺔ ﺍﺨﺘﻴﺎﺭ ﺃﻋﻀﺎﺌﻪ ﻭﻤﻬﺎﻤﻪ ،ﻭﺩﻭﺭﻩ ﻓﻲ ﺍﻹﺸﺭﺍﻑ ﻋﻠﻰ ﺍﻹﺩﺍﺭﺓ ﺍﻝﺘﻨﻔﻴﺫﻴﺔ. • ﺩﻭﺭ ﺃﺼﺤﺎﺏ ﺍﻝﻤﺼﺎﻝﺢ ﻓﻲ ﺃﺴﺎﻝﻴﺏ ﻤﻤﺎﺭﺴﺔ ﺴﻠﻁﺎﺕ ﺍﻹﺩﺍﺭﺓ ﺒﺎﻝﺸﺭﻜﺔ :ﻭﻴﻘﺼﺩ ﺒﺄﺼﺤﺎﺏ ﺍﻝﻤﺼﺎﻝﺢ ﺍﻝﺒﻨﻭﻙ ﻭﺍﻝﻌﺎﻤﻠﻴﻥ ﻭﺤﻤﻠﺔ ﻭﺍﻝﺴﻨﺩﺍﺕ ﻭﺍﻝﻤﻭﺭﺩﻴﻥ ﻭﺍﻝﻌﻤﻼﺀ...ﺍﻝﺦ .ﻭﻴﺸﻤل ﻫﺫﺍ ﺍﻝﻤﻌﻴﺎﺭ ﺍﺤﺘﺭﺍﻡ ﺤﻘﻭﻗﻬﻡ ﺍﻝﻘﺎﻨﻭﻨﻴﺔ ﻭﺍﻝﺘﻌﻭﻴﺽ ﻋﻥ ﺃﻱ ﺍﻨﺘﻬﺎﻙ ﻝﺘﻠﻙ ﺍﻝﺤﻘﻭﻕ ،ﻭﻜﺫﻝﻙ ﺁﻝﻴﺎﺕ ﻤﺸﺎﺭﻜﺘﻬﻡ ﺍﻝﻔﻌﺎﻝﺔ ﻓﻲ ﺍﻝﺭﻗﺎﺒﺔ ﻋﻠﻰ ﺍﻝﺸﺭﻜﺔ.
5
ﻤﻌﺎﻴﻴﺭ ﺨﺎﺼﺔ ﺒﺎﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﺠﻬﺎﺯ ﺍﻝﻤﺼﺭﻓﻲ: ﺃﻤﺎ ﻓﻴﻤﺎ ﻴﺨﺹ ﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﺠﻬﺎﺯ ﺍﻝﻤﺼﺭﻓﻲ ،ﻓﻘﺩ ﻭﻀﻌﺕ ﻝﺠﻨﺔ ﺒﺎﺯل ﻝﻠﺭﻗﺎﺒﺔ ﺍﻝﻤﺼﺭﻓﻴﺔ ﺍﻝﻌﺎﻝﻤﻴﺔ 10 ﻤﻌﺎﻴﻴﺭ ﺨﺎﺼﺔ ﺒﺎﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻝﻤﺼﺭﻓﻴﺔ ﻭﺍﻝﻤﺎﻝﻴﺔ ،ﻭﻨﻠﺨﺼﻬﺎ ﻓﻲ ﺍﻵﺘﻲ: -1ﺍﻹﻋﻼﻥ ﻋﻥ ﺍﻷﻫﺩﺍﻑ ﺍﻹﺴﺘﺭﺍﺘﻴﺠﻴﺔ ﻝﻠﺠﻬﺎﺯ ﺍﻝﻤﺼﺭﻓﻲ ﻭﻝﻠﺒﻨﻙ ﻭﺘﺤﺩﻴﺩ ﻤﺴﺅﻭﻝﻴﺎﺕ ﺍﻹﺩﺍﺭﺓ. -2ﺍﻝﺘﺄﻜﺩ ﻤﻥ ﻜﻔﺎﺀﺓ ﺃﻋﻀﺎﺀ ﻤﺠﻠﺱ ﺍﻹﺩﺍﺭﺓ ﻭﺇﺩﺭﺍﻜﻬﻡ ﺍﻝﻜﺎﻤل ﻝﻤﻔﻬﻭﻡ ﺍﻝﺤﻭﻜﻤﺔ ،ﻭﻋﺩﻡ ﻭﺠﻭﺩ ﺃﺨﻁﺎﺀ ﻤﻘﺼﻭﺩﺓ ﻤﻥ ﻗﺒل ﺍﻹﺩﺍﺭﺓ ﺍﻝﻌﻠﻴﺎ. -3ﻀﻤﺎﻥ ﻓﺎﻋﻠﻴﺔ ﺩﻭﺭ ﺍﻝﻤﺭﺍﻗﺒﻴﻥ ﻭﺇﺩﺭﺍﻜﻬﻡ ﻷﻫﻤﻴﺔ ﺩﻭﺭﻫﻡ ﺍﻝﺭﻗﺎﺒﻲ. -4ﻀﺭﻭﺭﺓ ﺘﻭﻓﺭ ﺍﻝﺸﻔﺎﻓﻴﺔ ﻭﺍﻹﻓﺼﺎﺡ ﻓﻲ ﻜﺎﻓﺔ ﺃﻋﻤﺎل ﻭﺃﻨﺸﻁﺔ ﺍﻝﺒﻨﻙ ﻭﺍﻹﺩﺍﺭﺓ. ﺍﻝﻌﻨﺎﺼﺭ ﺍﻷﺴﺎﺴﻴﺔ ﻝﻠﺘﻁﺒﻴﻕ ﺍﻝﺴﻠﻴﻡ ﻝﻠﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﺠﻬﺎﺯ ﺍﻝﻤﺼﺭﻓﻲ: ﺇﻥ ﺍﻝﺘﻁﺒﻴﻕ ﺍﻝﺴﻠﻴﻡ ﻝﻠﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﺠﻬﺎﺯ ﺍﻝﻤﺼﺭﻓﻲ ﻴﺘﻁﻠﺏ ﺘﻭﻓﺭ ﻋﺩﺓ ﻋﻨﺎﺼﺭ ﺃﺴﺎﺴﻴﺔ ﻨﻠﺨﺼﻬﺎ ﻓﻴﻤﺎ ﻴﻠﻲ: ﺍﻝﺸﻔﺎﻓﻴﺔ. ﺘﻭﻓﺭ ﻨﻅﺎﻡ ﻤﻌﻠﻭﻤﺎﺕ ﻓﻌﺎل. ﻭﻀﻊ ﺃﻫﺩﺍﻑ ﺍﺴﺘﺭﺘﻴﺠﻴﺔ ﻝﻠﺒﻨﻙ. ﺍﻝﻨﻬﻭﺽ ﺒﻤﺴﺘﻭﻯ ﺍﻝﻜﻔﺎﺀﺍﺕ ﺍﻝﺒﺸﺭﻴﺔ ﻤﻥ ﺨﻼل ﺍﻝﺘﺩﺭﻴﺏ. ﺍﻻﺴﺘﻔﺎﺩﺓ ﺍﻝﻔﻌﻠﻴﺔ ﻤﻥ ﻋﻤل ﺍﻝﻤﺭﺍﺠﻌﻴﻥ ﺍﻝﺩﺍﺨﻠﻴﻴﻥ ﻭﺍﻝﺨﺎﺭﺠﻴﻴﻥ. ﻀﻤﺎﻥ ﺘﻭﺍﻓﻕ ﻨﻅﺎﻡ ﺍﻝﺤﻭﺍﻓﺯ ﻤﻊ ﻨﻅﻡ ﺍﻝﺒﻨﻙ. ﻭﻀﻊ ﻭﺘﻨﻔﻴﺫ ﺴﻴﺎﺴﺎﺕ ﻭﺍﻀﺤﺔ ﻝﻠﻤﺴﺅﻭﻝﻴﺔ ﻓﻲ ﺍﻝﺒﻨﻙ. ﻀﻤﺎﻥ ﻜﻔﺎﺀﺓ ﺃﻋﻀﺎﺀ ﻤﺠﻠﺱ ﺍﻹﺩﺍﺭﺓ. ﻀﻤﺎﻥ ﺘﻭﺍﻓﺭ ﻤﺭﺍﻗﺒﺔ ﻤﻼﺌﻤﺔ ﺒﻭﺍﺴﻁﺔ ﺍﻹﺩﺍﺭﺓ ﺍﻝﻌﻠﻴﺎ. ﺘﻁﺒﻴﻕ ﺍﻝﻤﻌﺎﻴﻴﺭ ﺍﻝﻤﺤﺎﺴﺒﻴﺔ ﺍﻝﺩﻭﻝﻴﺔ.ﻭﻨﺸﻴﺭ ﺇﻝﻰ ﺃﻥ ﻫﻨﺎﻙ ﻤﺠﻤﻭﻋﺘﻴﻥ ﻓﺎﻋﻠﺘﻴﻥ ﻓﻲ ﺘﻁﺒﻴﻕ ﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﻤﺼﺎﺭﻑ ﻭﻫﻤﺎ: ﺍﻝﻤﺠﻤﻭﻋﺔ ﺍﻷﻭﻝﻰ :ﻭﺘﻀﻡ ﺍﻝﻔﺎﻋﻠﻴﻥ ﺍﻝﺩﺍﺨﻠﻴﻴﻥ ﻭﻫﻡ :ﺤﻤﻠﺔ ﺍﻷﺴﻬﻡ ،ﻤﺠﻠﺱ ﺍﻹﺩﺍﺭﺓ ،ﺍﻹﺩﺍﺭﺓ ﺍﻝﺘﻨﻔﻴﺫﻴﺔ ﻭﺍﻝﻤﺭﺍﺠﻌﻭﻥ ﺍﻝﺩﺍﺨﻠﻴﻭﻥ. ﺍﻝﻤﺠﻤﻭﻋﺔ ﺍﻝﺜﺎﻨﻴﺔ :ﻭﺘﻀﻡ ﺍﻝﻔﺎﻋﻠﻴﻥ ﺍﻝﺨﺎﺭﺠﻴﻥ ﻭﻫﻡ :ﺍﻝﻤﻭﺩﻋﻭﻥ ،ﺼﻨﺩﻭﻕ ﺘﺄﻤﻴﻥ ﺍﻝﻭﺩﺍﺌﻊ ،ﻭﺴﺎﺌل ﺍﻹﻋﻼﻡ، ﺸﺭﻜﺎﺕ ﺍﻝﺘﺼﻨﻴﻑ ﻭﺍﻝﺘﻘﻴﻴﻡ ﺍﻻﺌﺘﻤﺎﻨﻲ ،ﻭﺍﻹﻁﺎﺭ ﺍﻝﻘﺎﻨﻭﻨﻲ ﺍﻝﺘﻨﻅﻴﻤﻲ ﻭﺍﻝﺭﻗﺎﺒﻲ. ﺜﺎﻝﺜﺎ :ﺃﻫﻤﻴﺔ ﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﺠﻬﺎﺯ ﺍﻝﻤﺼﺭﻓﻲ ﻭﺍﻝﻬﺩﻑ ﻤﻨﻬﺎ: ﺘﻅﻬﺭ ﺃﻫﻤﻴﺔ ﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﺠﻬﺎﺯ ﺍﻝﻤﺼﺭﻓﻲ ﻤﻥ ﺨﻼل ﺍﻝﻨﻘﺎﻁ ﺍﻝﺘﺎﻝﻴﺔ: ﺘﻌﺘﺒﺭ ﺍﻝﺤﻭﻜﻤﺔ ﻨﻅﺎﻤﺎ ﻴﺘﻡ ﺒﻤﻭﺠﺒﻪ ﺘﻭﺠﻴﻪ ﻭﺭﻗﺎﺒﺔ ﺍﻝﻌﻤﻠﻴﺎﺕ ﺍﻝﺘﺸﻐﻴﻠﻴﺔ ﻝﻠﺒﻨﻭﻙ. ﺘﻤﺜل ﺍﻝﺤﻭﻜﻤﺔ ﺍﻝﺴﻠﻴﻤﺔ ﻋﻨﺼﺭﺍ ﺭﺌﻴﺴﻴﺎ ﻓﻲ ﺘﺤﺴﻴﻥ ﺍﻝﻜﻔﺎﺀﺓ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﻓﻲ ﺍﻝﺒﻨﻭﻙ ،ﻓﻲ ﺃﻥ ﻋﻜﺱﺫﻝﻙ ﻗﺩ ﻴﺅﺜﺭ ﻋﻠﻰ ﺍﻻﺴﺘﻘﺭﺍﺭ ﺍﻻﻗﺘﺼﺎﺩﻱ ﻭﺍﻝﻤﺎﻝﻲ. ﻭﺘﻬﺩﻑ ﺍﻝﺤﻭﻜﻤﺔ ﻤﻥ ﺨﻼل ﻗﻭﺍﻋﺩﻫﺎ ﻭﻀﻭﺍﺒﻁﻬﺎ ﺇﻝﻰ ﺍﻝﻌﺩﻴﺩ ﻤﻥ ﺍﻷﻫﺩﺍﻑ ﻨﻠﺨﺼﻬﺎ ﻓﻴﻤﺎ ﻴﻠﻲ: ﺘﺤﻘﻴﻕ ﺍﻝﺸﻔﺎﻓﻴﺔ ﻭﺍﻝﻌﺩﺍﻝﺔ ﻭﻤﻨﺢ ﺤﻕ ﻤﺴﺎﺀﻝﺔ ﺍﻹﺩﺍﺭﺓ. ﺘﺤﻘﻴﻕ ﺍﻝﺤﻤﺎﻴﺔ ﻝﺤﻘﻭﻕ ﺍﻝﻤﺴﺎﻫﻤﻴﻥ. ﺘﺤﻘﻴﻕ ﺍﻝﺤﻤﺎﻴﺔ ﻷﻤﻭﺍل ﺍﻝﻤﻭﺩﻋﻴﻥ. ﺍﻝﻌﻤل ﻋﻠﻰ ﻀﻤﺎﻥ ﻤﺭﺍﺠﻌﺔ ﺍﻷﺩﺍﺀ ﺍﻝﻤﺎﻝﻲ ﻝﻠﺒﻨﻙ. ﺘﺤﻘﻴﻕ ﺭﻗﺎﺒﺔ ﻤﺴﺘﻘﻠﺔ ﻋﻠﻰ ﺠﻤﻴﻊ ﺍﻷﻋﻤﺎل ﺩﺍﺨل ﺍﻝﺒﻨﻙ. ﺍﻝﺤﺩ ﻤﻥ ﺍﺴﺘﻐﻼل ﺍﻝﺴﻠﻁﺔ ﻓﻲ ﻏﻴﺭ ﺍﻝﻤﺼﻠﺤﺔ ﺍﻝﻌﺎﻤﺔ ﻝﻠﺒﻨﻙ.11
ﺩﻭﺭ ﺍﻝﺒﻨﻙ ﺍﻝﻤﺭﻜﺯﻱ ﻓﻲ ﺘﻌﺯﻴﺯ ﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﻤﺼﺎﺭﻑ: ﻻﻴﺭﺘﺒﻁ ﻨﺠﺎﺡ ﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﻤﺼﺎﺭﻑ ﻓﻘﻁ ﺒﻭﻀﻊ ﺍﻝﻘﻭﺍﻋﺩ ﺍﻝﺭﻗﺎﺒﻴﺔ ،ﻭﻝﻜﻥ ﻻﺒﺩ ﻤﻥ ﺘﻁﺒﻴﻘﻬﺎ ﺒﺸﻜل ﺴﻠﻴﻡ ،ﻭﻫﺫﺍ ﺒﻁﺒﻴﻌﺔ ﺍﻝﺤﺎل ﻴﻌﺘﻤﺩ ﺒﺸﻜل ﻜﺒﻴﺭ ﻋﻠﻰ ﺍﻝﺒﻨﻙ ﺍﻝﻤﺭﻜﺯﻱ ﻭﺩﻭﺭﻩ ﺍﻹﺸﺭﺍﻓﻲ ﻭﺍﻝﺭﻗﺎﺒﻲ ﻤﻥ ﺠﻬﺔ ،ﻭﻋﻠﻰ ﺍﻝﺒﻨﻭﻙ ﺍﻝﻤﻌﻨﻴﺔ ﻤﻥ ﺠﻬﺔ ﺃﺨﺭﻯ. 6
ﻭﻝﻬﺫﺍ ﻓﺈﻥ ﺍﻝﺒﻨﻙ ﺍﻝﻤﺭﻜﺯﻱ ﻴﻠﻌﺏ ﺩﻭﺭﺍ ﺃﺴﺎﺴﻴﺎ ﻓﻲ ﺘﻌﺯﻴﺯ ﺍﻝﺤﻭﻜﻤﺔ ﺍﻝﺠﻴﺩﺓ ﻓﻲ ﺍﻝﺒﻨﻭﻙ ﻭﺫﻝﻙ ﻝﻸﺴﺒﺎﺏ 12 ﺍﻝﺘﺎﻝﻴﺔ: ﺇﻥ ﺘﻁﺒﻴﻕ ﺍﻝﺤﻭﻜﻤﺔ ﺍﻝﺠﻴﺩﺓ ﻴﻘﻊ ﻀﻤﻥ ﺍﻝﻤﺴﺅﻭﻝﻴﺎﺕ ﺍﻹﺸﺭﺍﻓﻴﺔ ﻝﻠﺒﻨﻙ ﺍﻝﻤﺭﻜﺯﻱ؛
ﺇﻥ ﺍﻝﺒﻨﻭﻙ ﺘﺨﺘﻠﻑ ﻋﻥ ﻏﻴﺭﻫﺎ ﻤﻥ ﺍﻝﺸﺭﻜﺎﺕ ﺍﻝﻤﺴﺎﻫﻤﺔ ﻷﻥ ﻁﺒﻴﻌﺔ ﻋﻤﻠﻬﺎ ﺘﺤﻤل ﺍﻝﻤﺨﺎﻁﺭ، ﺇﻀﺎﻓﺔ ﺇﻝﻰ ﻜﻭﻥ ﻫﺫﻩ ﺍﻝﺒﻨﻭﻙ ﻤﺴﺅﻭﻝﺔ ﻋﻥ ﺍﻝﻤﺤﺎﻓﻅﺔ ﻋﻠﻰ ﺃﻤﻭﺍل ﺍﻝﻐﻴﺭ )ﺍﻝﻤﻭﺩﻋﻴﻥ( ؛
ﻨﺘﻴﺠﺔ ﻝﺘﻌﺭﺽ ﺍﻝﺒﻨﻭﻙ ﻝﻬﺫﻩ ﺍﻝﻤﺨﺎﻁﺭ ﻭﺒﺴﺒﺏ ﺘﺩﺍﻭل ﺃﺴﻬﻤﻬﺎ ﻓﻲ ﺒﻭﺭﺼﺔ ﺍﻷﻭﺭﺍﻕ ﺍﻝﻤﺎﻝﻴﺔ، ﻓﺈﻥ ﻭﺠﻭﺩ ﺍﻝﺤﻭﻜﻤﺔ ﻀﺭﻭﺭﺓ ﻝﻬﺫﻩ ﺍﻝﺒﻨﻭﻙ؛
ﻴﺤﺘﺎﺝ ﺃﻋﻀﺎﺀ ﻤﺠﻠﺱ ﺍﻹﺩﺍﺭﺓ ﻓﻲ ﺍﻝﺒﻨﻭﻙ ﻀﻤﺎﻥ ﺃﻥ ﺍﻝﻤﺨﺎﻁﺭ ﺍﻝﺘﻲ ﺘﺘﻌﺭﺽ ﻝﻬﺎ ﻁﺒﻴﻌﺔ ﺃﻋﻤﺎل ﺍﻝﺒﻨﻭﻙ ﺘﺩﺍﺭ ﺒﺸﻜل ﺴﻠﻴﻡ، ،ﻭﺃﻥ ﻝﺩﻯ ﺍﻝﺒﻨﻙ ﺍﻝﻤﺭﻜﺯﻱ ﺍﻝﻤﺴﺅﻭﻝﻴﺔ ﺍﻝﻘﺎﻨﻭﻨﻴﺔ ﻝﻠﺘﺄﻜﺩ ﻤﻥ ﺫﻝﻙ.
ﺃﻫﺩﺍﻑ ﺍﻝﺭﻗﺎﺒﺔ ﺍﻝﻤﺼﺭﻓﻴﺔ ﻭﺍﻝﺤﻭﻜﻤﺔ: ﺘﻤﺜل ﺃﻫﺩﺍﻑ ﺍﻝﺭﻗﺎﺒﺔ ﺍﻝﻤﺼﺭﻓﻴﺔ ﺠﺯﺀﺍ ﻤﻥ ﺃﻫﺩﺍﻑ ﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﺠﻬﺎﺯ ﺍﻝﻤﺼﺭﻓﻲ ،ﺤﻴﺙ ﻭﻋﻠﻰ ﺍﻝﺭﻏﻡ ﻤﻥ ﺍﺨﺘﻼﻑ ﻨﻅﻡ ﺍﻝﺭﻗﺎﺒﺔ ﻓﻲ ﺩﻭل ﺍﻝﻌﺎﻝﻡ ،ﺇﻻ ﺃﻨﻪ ﻴﻭﺠﺩ ﺍﺘﻔﺎﻕ ﻋﺎﻡ ﻋﻠﻰ ﺃﻫﺩﺍﻑ ﻤﺤﺩﺩﺓ ﺭﺌﻴﺴﻴﺔ ﻝﻠﺭﻗﺎﺒﺔ 13 ﺍﻝﻤﺼﺭﻓﻴﺔ ﻭﻫﻲ: • ﺍﻝﺤﻔﺎﻅ ﻋﻠﻰ ﺍﺴﺘﻘﺭﺍﺭ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺎﻝﻲ ﻭﺍﻝﻤﺼﺭﻓﻲ :ﻭﻴﺘﻀﻤﻥ ﻨﻘﻁﺘﻴﻥ ﺃﺴﺎﺴﻴﺘﻴﻥ ﻫﻤﺎ: ﺘﺠﻨﺏ ﻤﺨﺎﻁﺭ ﺇﻓﻼﺱ ﺍﻝﺒﻨﻭﻙ ﻤﻥ ﺨﻼل ﺍﻹﺸﺭﺍﻑ ﻋﻠﻰ ﻤﻤﺎﺭﺴﺎﺕ ﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻝﻤﺼﺭﻓﻴﺔ ،ﻭﻀﻤﺎﻥ ﻋﺩﻡﺘﻌﺜﺭﻫﺎ ﺤﻤﺎﻴﺔ ﻝﻠﻨﻅﺎﻡ ﺍﻝﻤﺼﺭﻓﻲ ﻭﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺎﻝﻲ ﻜﻜل. ﻭﻀﻊ ﺍﻝﻘﻭﺍﻋﺩ ﻭﺍﻝﺘﻌﻠﻴﻤﺎﺕ ﺍﻝﺨﺎﺼﺔ ﺒﺈﺩﺍﺭﺓ ﺍﻷﺼﻭل ﻭﺍﻝﺨﺼﻭﻡ ﻓﻲ ﺍﻝﺒﻨﻭﻙ ﺴﻭﺍﺀ ﺒﺎﻝﻨﺴـﺒﺔ ﻝﻠﻌﻤﻠﻴـﺎﺕﺍﻝﻤﺤﻠﻴﺔ ﺃﻭ ﺍﻝﺩﻭﻝﻴﺔ. • ﻀﻤﺎﻥ ﻜﻔﺎﺀﺓ ﻋﻤل ﺍﻝﺠﻬﺎﺯ ﺍﻝﻤﺼﺭﻓﻲ :ﻭﻴﻜﻭﻥ ﺫﻝﻙ ﻤﻥ ﺨﻼل: ﻓﺤﺹ ﺍﻝﺤﺴﺎﺒﺎﺕ ﻭﺍﻝﻤﺴﺘﻨﺩﺍﺕ ﺍﻝﺨﺎﺼﺔ ﺒﺎﻝﺒﻨﻭﻙ ﻝﻠﺘﺄﻜﺩ ﻤﻥ ﺠﻭﺩﺓ ﺍﻷﺼﻭل ﻭﺘﺠﻨﺏ ﺘﻌﺭﻀﻬﺎ ﻝﻠﻤﺨﺎﻁﺭ، ﺘﻘﻴﻴﻡ ﺍﻝﻌﻤﻠﻴﺎﺕ ﺍﻝﺩﺍﺨﻠﻴﺔ ﺒﺎﻝﺒﻨﻭﻙ ﻭﺘﺤﻠﻴل ﺍﻝﻌﻨﺎﺼﺭ ﺍﻝﻤﺎﻝﻴﺔ ﺍﻝﺭﺌﻴﺴﻴﺔ ﻭﺘﻭﺍﻓﻕ ﻋﻤﻠﻴﺎﺕ ﺍﻝﺒﻨﻭﻙ ﻤﻊ ﺍﻷﻁـﺭﺍﻝﻌﺎﻤﺔ ﻝﻠﻘﻭﺍﻨﻴﻥ ﺍﻝﻤﻭﻀﻭﻋﺔ، ﺘﻘﻴﻴﻡ ﺍﻝﻭﻀﻊ ﺍﻝﻤﺎﻝﻲ ﻝﻠﺒﻨﻭﻙ ﻝﻠﺘﺄﻜﺩ ﻤﻥ ﻗﺩﺭﺘﻬﺎ ﻋﻠﻰ ﺍﻝﻭﻓﺎﺀ ﺒﺎﻝﺘﺯﺍﻤﺎﺘﻬﺎ ،ﺒﻬﺩﻑ ﺍﻝﺤﻔﺎﻅ ﻋﻠﻰ ﺘﻤﻭﻴل ﺒﻌﺽﺍﻷﻨﺸﻁﺔ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﻭﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻝﺤﻴﻭﻴﺔ ﻭﺍﻝﻬﺎﻤﺔ ﻭﺍﻝﺘﻲ ﻻ ﻴﺴﺘﻁﻴﻊ ﺍﻝﻘﻁﺎﻉ ﺍﻝﺨـﺎﺹ ﺘـﺩﺒﻴﺭ ﺘﻤﻭﻴﻠﻬـﺎ ﺒﺎﻝﻜﺎﻤل. • ﺤﻤﺎﻴﺔ ﺍﻝﻤﻭﺩﻋﻴﻥ :ﻭﻴﻜﻭﻥ ﺫﻝﻙ ﻋﻥ ﻁﺭﻴﻕ ﺘﺩﺨل ﺍﻝﺴﻠﻁﺎﺕ ﺍﻝﺭﻗﺎﺒﻴﺔ ﻝﻔﺭﺽ ﺴـﻴﻁﺭﺘﻬﺎ ﻭﺍﺘﺨـﺎﺫ ﺍﻹﺠﺭﺍﺀﺍﺕ ﺍﻝﻤﻨﺎﺴﺒﺔ ﻝﺘﻔﺎﺩﻱ ﺍﻝﻤﺨﺎﻁﺭ ﺍﻝﻤﺤﺘﻤﻠﺔ ﺍﻝﺘﻲ ﻗﺩ ﺘﺘﻌﺭﺽ ﻝﻬﺎ ﺍﻷﻤﻭﺍل ﻓﻲ ﺤﺎﻝﺔ ﻋﺩﻡ ﺘﻨﻔﻴﺫ ﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻻﺌﺘﻤﺎﻨﻴﺔ ﺍﻝﺘﺯﺍﻤﺎﺘﻬﺎ ﺘﺠﺎﻩ ﺍﻝﻤﻭﺩﻋﻴﻥ ﻭﺨﺎﺼﺔ ﺍﻝﻤﺘﻌﻠﻘﺔ ﺒﺴﻼﻤﺔ ﺍﻷﺼﻭل. ﺍﻝﻤﺘﻁﻠﺒﺎﺕ ﺍﻷﺴﺎﺴﻴﺔ ﻝﻤﻤﺎﺭﺴﺔ ﺭﻗﺎﺒﺔ ﻤﺼﺭﻓﻴﺔ ﻓﻌﺎﻝﺔ. ﺃﺸﺎﺭﺕ ﻝﺠﻨﺔ ﺒﺎﺯل ﺇﻝﻰ ﺃﻥ ﺍﻝﺭﻗﺎﺒﺔ ﺍﻝﻤﺼﺭﻓﻴﺔ ﺘﻌﺩ ﺠﺯﺀﹰﺍ ﻤﻥ ﻨﻅﺎﻡ ﻤﺘﻜﺎﻤل ﻴﺴﺎﻋﺩ ﻋﻠﻰ ﺘﺤﻘﻴﻕ ﺍﻻﺴـﺘﻘﺭﺍﺭ 14 ﺍﻝﻤﺎﻝﻲ ﻭﻴﺘﻜﻭﻥ ﺫﻝﻙ ﺍﻝﻨﻅﺎﻡ ﻤﻥ ﺍﻝﻌﻨﺎﺼﺭ ﺍﻝﺨﻤﺴﺔ ﺍﻝﺘﺎﻝﻴﺔ: .1ﺴﻴﺎﺴﺎﺕ ﺍﻗﺘﺼﺎﺩ ﻜﻠﻲ ﻤﺴﺘﻘﺭﺓ ﻭﺴﻠﻴﻤﺔ. .2ﺒﻨﻴﺔ ﺃﺴﺎﺴﻴﺔ ﻤﺘﻁﻭﺭﺓ ﺘﺸﻤل: ﺃ .ﻗﻭﺍﻨﻴﻥ ﻤﻨﻅﻤﺔ ﻝﻠﺸﺭﻜﺎﺕ ،ﻭﺤﻤﺎﻴﺔ ﺍﻝﻤﺴﺘﻬﻠﻙ ﻭﺍﻝﻤﻠﻜﻴﺔ ﺍﻝﺨﺎﺼﺔ. ﺏ .ﻗﻭﺍﻋﺩ ﻭﻤﺒﺎﺩﺉ ﻤﺤﺎﺴﺒﻴﺔ ﻤﻌﺘﺭﻑ ﺒﻬﺎ ﺩﻭﻝﻴﹰﺎ. ﺝ .ﻨﻅﺎﻡ ﻤﺴﺘﻘل ﻝﻤﺭﺍﺠﻌﺔ ﻤﻴﺯﺍﻨﻴﺎﺕ ﺍﻝﺸﺭﻜﺎﺕ ﺫﺍﺕ ﺍﻝﺤﺠﻡ ﺍﻝﻜﺒﻴﺭ. ﺩ .ﺭﻗﺎﺒﺔ ﻤﺼﺭﻓﻴﺔ ﻓﻌﺎﻝﺔ. ﻫـ .ﻗﻭﺍﻋﺩ ﻤﺤﺩﺩﺓ ﻝﺘﻨﻅﻴﻡ ﺃﻋﻤﺎل ﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻝﻤﺎﻝﻴﺔ ﺍﻷﺨﺭﻯ ﺒﺨﻼﻑ ﺍﻝﺒﻨﻭﻙ. ﻭ .ﻨﻅﺎﻡ ﻝﺘﺴﻭﻴﺎﺕ ﺍﻝﻤﺩﻓﻭﻋﺎﺕ. 7
.3ﺍﻻﻨﻀﺒﺎﻁ ﺍﻝﻔﻌﺎل ﻝﻠﺴﻭﻕ ﺍﻝﺫﻱ ﻴﻌﺘﻤﺩ ﻋﻠﻰ ﺘﺩﻓﻕ ﺍﻝﻤﻌﻠﻭﻤﺎﺕ ﻤـﻥ ﺍﻝﻤﻘﺘﺭﻀـﻴﻥ ﺇﻝـﻰ ﺍﻝﻤﺴـﺘﺜﻤﺭﻴﻥ ﻭﺍﻝﺩﺍﺌﻨﻴﻥ ،ﻭﻋﺩﻡ ﺍﻝﺘﺩﺨل ﺍﻝﺤﻜﻭﻤﻲ ﻓﻲ ﺼﻨﺎﻋﺔ ﻗﺭﺍﺭﺍﺕ ﻫﺫﻩ ﺍﻷﻁﺭﺍﻑ ﻭﺒﺼﻔﺔ ﺨﺎﺼﺔ ﻤﻨﺢ ﺍﻻﺌﺘﻤﺎﻥ. .4ﺼﻼﺤﻴﺔ ﻝﻠﺴﻠﻁﺔ ﺍﻝﺭﻗﺎﺒﻴﺔ ﻓﻲ ﺍﺘﺨﺎﺫ ﺍﻹﺠﺭﺍﺀﺍﺕ ﺍﻝﺘﺼﺤﻴﺤﻴﺔ ﻹﻗﺎﻝـﺔ ﺍﻝﺒﻨـﻭﻙ ﺍﻝﻤﺘﻌﺜـﺭﺓ ﺃﻭ ﺇﻋـﺎﺩﺓ ﻫﻴﻜﻠﺔ/ﺘﺼﻔﻴﺔ ﻫﺫﻩ ﺍﻝﺒﻨﻭﻙ ﻓﻲ ﺍﻝﺤﺎﻻﺕ ﺍﻝﺤﺭﺠﺔ. .5ﺁﻝﻴﺎﺕ ﻝﺘﻭﻓﻴﺭ ﻤﺴﺘﻭﻯ ﻤﻼﺌﻡ ﻤﻥ ﺍﻝﺘﺩﺨل ﺍﻝﺤﻜﻭﻤﻲ ﺒﻬﺩﻑ ﺤﻤﺎﻴﺔ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺼﺭﻓﻲ ﻋﻨـﺩﻤﺎ ﻴﺘﻌـﺭﺽ ﻝﻌﻘﺒﺎﺕ. ﺭﺍﺒﻌﺎ :ﻭﺍﻗﻊ ﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﺠﻬﺎﺯ ﺍﻝﻤﺼﺭﻓﻲ ﺍﻝﺠﺯﺍﺌﺭﻱ: ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺼﺭﻓﻲ ﺍﻝﺠﺯﺍﺌﺭﻱ ﻭﺍﻹﺼﻼﺤﺎﺕ: ﺇﻥ ﺍﻝﺘﻁﻭﺭﺍﺕ ﺍﻝﺤﺎﺼﻠﺔ ﻓﻲ ﺍﻝﻌﺎﻝﻡ ﻭﺍﻨﻔﺘﺎﺡ ﺍﻝﺠﺯﺍﺌﺭ ﻋﻠﻰ ﺍﻝﻌﺎﻝﻡ ﺍﻝﺨﺎﺭﺠﻲ ﻭﺍﻨﺘﻬﺎﺠﻬﺎ ﺍﻗﺘﺼﺎﺩ ﺍﻝﺴﻭﻕ ﺠﻌﻠﻬﺎ ﺘﻘﻭﻡ ﺒﺎﻝﻌﺩﻴﺩ ﻤﻥ ﺍﻹﺼﻼﺤﺎﺕ ﻓﻲ ﺍﻝﻌﺩﻴﺩ ﻤﻥ ﺍﻷﻨﻅﻤﺔ ﻭﻤﻨﻬﺎ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺼﺭﻓﻲ ﻭﺃﻫﻡ ﻫﺫﻩ ﺍﻹﺼﻼﺤﺎﺕ :ﺇﺼﻼﺤﺎﺕ 1986ﻭﺇﺼﻼﺤﺎﺕ ،1988ﻭﻝﻜﻥ ﺃﻫﻤﻬﺎ ﻜﺎﻨﺕ ﺇﺼﻼﺤﺎﺕ 1990ﺒﺼﺩﻭﺭ ﺍﻝﻘﺎﻨﻭﻥ ﺭﻗﻡ 10-90ﺍﻝﻤﺘﻀﻤﻥ ﻗﺎﻨﻭﻥ ﺍﻝﻨﻘﺩ ﻭﺍﻝﻘﺭﺽ ﺍﻝﻤﻌﺩل ﺒﺎﻷﻤﺭ 11-03ﺴﻨﺔ ،2003ﻭﻗﺩ ﺤﺎﻭل ﻗﺎﻨﻭﻥ ﺍﻝﻨﻘﺩ ﻭﺍﻝﻘﺭﺽ ﺘﻜﻴﻴﻑ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺼﺭﻓﻲ ﺍﻝﺠﺯﺍﺌﺭﻱ ﻤﻊ ﻤﺘﻁﻠﺒﺎﺕ ﺍﻗﺘﺼﺎﺩ ﺍﻝﺴﻭﻕ ﺍﻝﺤﺭ ،ﻭﺫﻝﻙ ﺘﻤﺎﺸﻴﺎ ﻤﻊ ﺍﻹﺼﻼﺤﺎﺕ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﺍﻝﺘﻲ ﺒﺎﺸﺭﺘﻬﺎ ﺍﻝﺠﺯﺍﺌﺭ ﺒﻌﺩ ﺘﺨﻠﻴﻬﺎ ﻋﻥ ﺍﻝﻨﻅﺎﻡ ﺍﻻﺸﺘﺭﺍﻜﻲ. ﻭﻗﺩ ﺃﻋﻁﻰ ﻗﺎﻨﻭﻥ ﺍﻝﻨﻘﺩ ﻭﺍﻝﻘﺭﺽ ﻝﻠﺒﻨﻭﻙ ﺍﻝﻌﺎﻤﻠﺔ ﻓﻲ ﺍﻝﺠﺯﺍﺌﺭ ﺤﺭﻴﺔ ﺘﻤﻭﻴل ﻤﺨﺘﻠﻑ ﺍﻝﻘﻁﺎﻋﺎﺕ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﻭﺘﻘﺩﻴﻡ ﺍﻻﺌﺘﻤﺎﻥ ﺒﻤﺨﺘﻠﻑ ﺍﻵﺠﺎل ﻁﺒﻘﺎ ﻝﻅﺎﻫﺭﺓ ﺍﻝﺸﻤﻭﻝﻴﺔ ﻓﻲ ﺍﻝﻌﻤل ﺍﻝﻤﺼﺭﻓﻲ .ﻜﻤﺎ ﻓﺘﺢ ﻫﺫﺍ ﺍﻝﻘﺎﻨﻭﻥ ﺍﻝﻤﺠﺎل ﺃﻤﺎﻡ ﺍﻝﻘﻁﺎﻉ ﺍﻝﺨﺎﺹ ﻭﺍﻷﺠﻨﺒﻲ ﻝﻠﻌﻤل ﻓﻲ ﺍﻝﺴﻭﻕ ﺍﻝﻤﺼﺭﻓﻴﺔ ﺍﻝﺠﺯﺍﺌﺭﻴﺔ. ﻭﻗﺩ ﺠﺎﺀ ﻗﺎﻨﻭﻥ ﺍﻝﻨﻘﺩ ﻭﺍﻝﻘﺭﺽ ﻝﺘﻘﺭﻴﺭ ﺭﻗﺎﺒﺔ ﺍﻝﺒﻨﻙ ﺍﻝﻤﺭﻜﺯﻱ ﻋﻠﻰ ﺍﻝﺒﻨﻭﻙ ﺍﻝﻌﺎﻤﻠﺔ ﻓﻲ ﺍﻝﺠﺯﺍﺌﺭ ﻭﺘﻤﻜﻴﻨﻪ ﻤﻥ ﺃﺩﺍﺀ ﻋﻤﻠﻪ ﻓﻲ ﺇﻁﺎﺭ ﻭﺍﺴﻊ ﻤﻥ ﺍﻻﺴﺘﻘﻼﻝﻴﺔ ،ﻭﻗﺩ ﺘﻌﺯﺯﺕ ﻫﺫﻩ ﺍﻝﺼﻼﺤﻴﺎﺕ ﺃﻜﺜﺭ ﻤﻥ ﺨﻼل ﺍﻝﺘﻌﺩﻴﻼﺕ ﺍﻝﺘﻲ ﺃﺩﺨﻠﺕ ﻋﻠﻰ ﺍﻝﻘﺎﻨﻭﻥ ﻤﻥ ﺨﻼل ﺍﻷﻤﺭ 01-01ﻝﺴﻨﺔ ،2001ﺜﻡ ﺍﻷﻤﺭ 11-03ﻝﺴﻨﺔ .2003 ﻭﻗﺩ ﻜﺎﻥ ﻝﺯﺍﻤﺎ ﻋﻠﻰ ﺍﻝﺠﺯﺍﺌﺭ ﺒﺩﺨﻭﻝﻬﺎ ﺍﻗﺘﺼﺎﺩ ﺍﻝﺴﻭﻕ ﺃﻥ ﺘﺴﺎﻴﺭ ﺍﻝﻤﻌﺎﻴﻴﺭ ﺍﻝﻌﺎﻝﻤﻴﺔ ﻝﻠﻌﻤل ﺍﻝﻤﺼﺭﻓﻲ ،ﻭﺃﻫﻤﻬﺎ ﻤﻌﺎﻴﻴﺭ ﻝﺠﻨﺔ ﺒﺎﺯل ) 1ﻭ (2ﻝﻠﺭﻗﺎﺒﺔ ﺍﻝﻤﺼﺭﻓﻴﺔ ﺍﻝﻌﺎﻝﻤﻴﺔ. ﻝﻘﺩ ﺤﺩﺩﺕ ﺍﻝﺘﻌﻠﻴﻤﺔ ﺭﻗﻡ 94-74ﺍﻝﺼﺎﺩﺭﺓ ﻓﻲ 1994/11/29ﻤﻌﻅﻡ ﺍﻝﻤﻌـﺩﻻﺕ ﺍﻝﻤﺘﻌﻠﻘـﺔ ﺒﻘﻭﺍﻋـﺩ ﺍﻝﺤﻴﻁﺔ ﻭﺍﻝﺤﺫﺭ ﺍﻝﻤﻌﺭﻭﻓﺔ ﻋﺎﻝﻤﻴﺎ ﻭﺃﻫﻤﻬﺎ ﺘﻠﻙ ﺍﻝﻤﺘﻌﻠﻘﺔ ﺒﻜﻔﺎﻴﺔ ﺭﺃﺱ ﺍﻝﻤﺎل .ﻓﻘﺩ ﻓﺭﻀﺕ ﻫﺫﻩ ﺍﻝﺘﻌﻠﻴﻤﺔ ﻋﻠﻰ ﺍﻝﺒﻨﻭﻙ ﺍﻻﻝﺘﺯﺍﻡ ﺒﻨﺴﺒﺔ ﻤﻼﺀﺓ ﻝﺭﺃﺱ ﺍﻝﻤﺎل ﺃﻜﺒﺭ ﺃﻭ ﺘﺴﺎﻭﻱ %8ﺘﻁﺒﻕ ﺒﺸﻜل ﺘﺩﺭﻴﺠﻲ ﻤﺭﺍﻋـﺎﺓ ﻝﻠﻤﺭﺤﻠـﺔ ﺍﻻﻨﺘﻘﺎﻝﻴﺔ ﺍﻝﺘﻲ ﻴﻤﺭ ﺒﻬﺎ ﺍﻻﻗﺘﺼﺎﺩ ﺍﻝﺠﺯﺍﺌﺭﻱ ﻓﻲ ﺘﻠﻙ ﺍﻝﻔﺘﺭﺓ ،ﻭﺤﺩﺩﺕ ﺁﺨﺭ ﺃﺠل ﻝـﺫﻝﻙ ﻨﻬﺎﻴـﺔ ﺩﻴﺴـﻤﺒﺭ ،1999ﻭﺫﻝﻙ ﻭﻓﻕ ﺍﻝﻤﺭﺍﺤل ﺍﻝﺘﺎﻝﻴﺔ: %4ﻤﻊ ﻨﻬﺎﻴﺔ ﺸﻬﺭ ﺠﻭﺍﻥ 1995. %5ﻤﻊ ﻨﻬﺎﻴﺔ ﺸﻬﺭ ﺩﻴﺴﻤﺒﺭ .1996 %6ﻤﻊ ﻨﻬﺎﻴﺔ ﺸﻬﺭ ﺩﻴﺴﻤﺒﺭ .1997 %7ﻤﻊ ﻨﻬﺎﻴﺔ ﺸﻬﺭ ﺩﻴﺴﻤﺒﺭ .1998 %8ﻤﻊ ﻨﻬﺎﻴﺔ ﺸﻬﺭ ﺩﻴﺴﻤﺒﺭ .1999ﻭﻗﺩ ﺤﺩﺩﺕ ﺍﻝﻤﺎﺩﺓ 05ﻤﻥ ﺍﻝﺘﻌﻠﻴﻤﺔ ﺍﻝﺴﺎﺒﻘﺔ ﻜﻴﻔﻴﺔ ﺤﺴﺎﺏ ﺭﺃﺱ ﺍﻝﻤﺎل ﺍﻝﺨـﺎﺹ ﻝﻠﺒﻨـﻙ ﻓـﻲ ﺠﺯﺌـﻪ ﺍﻷﺴﺎﺴﻲ ،ﺒﻴﻨﻤﺎ ﺤﺩﺩﺕ ﺍﻝﻤﺎﺩﺘﻴﻥ 06ﻭ 07ﺍﻝﻌﻨﺎﺼﺭ ﺍﻝﺘﻲ ﺘﺤﺴﺏ ﻀﻤﻥ ﺭﺃﺱ ﺍﻝﻤـﺎل ﺍﻝﺘﻜﻤﻴﻠـﻲ ﻝﻠﺒﻨـﻙ، ﻭﻤﺠﻤﻭﻉ ﻫﺫﻴﻥ ﺍﻝﺠﺯﺃﻴﻥ ﻴﺸﻜل ﺭﺃﺱ ﺍﻝﻤﺎل ﺍﻝﺨﺎﺹ ﻝﻠﺒﻨﻙ ،ﺒﻴﻨﻤﺎ ﺒﻴﻨﺕ ﺍﻝﻤﺎﺩﺓ 08ﻤﺠﻤﻭﻉ ﺍﻝﻌﻨﺎﺼﺭ ﺍﻝﺘـﻲ ﻴﺘﻭﻓﺭ ﻓﻴﻬﺎ ﻋﻨﺼﺭ ﺍﻝﻤﺨﺎﻁﺭﺓ ،ﺜﻡ ﺼﻨﻔﺘﻬﺎ ﺍﻝﻤﺎﺩﺓ 11ﻭﻓﻕ ﺃﻭﺯﺍﻥ ﺍﻝﻤﺨﺎﻁﺭﺓ ﺍﻝﺨﺎﺼﺔ ﺒﻬﺎ ﺴﻭﺍﺀ ﺒﺎﻝﻨﺴـﺒﺔ ﻝﻌﻨﺎﺼﺭ ﺍﻝﻤﻴﺯﺍﻨﻴـﺔ ﺃﻭ ﻋﻨﺎﺼﺭ ﺨﺎﺭﺝ ﺍﻝﻤﻴﺯﺍﻨﻴـﺔ ،ﻭﻜل ﺫﻝﻙ ﺒﻁﺭﻴﻘﺔ ﻤﺸﺎﺒﻬﺔ ﻝﻤﺎ ﻭﺭﺩ ﻓﻲ ﺍﺘﻔـﺎﻗــﻴﺔ 15 ﺒﺎﺯل .1 ﺃﻤﺎ ﺒﺎﻝﻨﺴﺒﺔ ﻻﺘﻔﺎﻗﻴﺔ ﺒﺎﺯل 2ﻓﻘﺩ ﺃﺼﺩﺭ ﺒﻨﻙ ﺍﻝﺠﺯﺍﺌﺭ ﻨﻅﺎﻡ ﺭﻗﻡ 03-02ﺒﺘـﺎﺭﻴﺦ 2002/11/14 ﻴﺘﻀﻤﻥ ﺍﻝﻤﺭﺍﻗﺒﺔ ﺍﻝﺩﺍﺨﻠﻴﺔ ﻝﻠﺒﻨﻭﻙ ﻭﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻝﻤﺎﻝﻴﺔ ،ﻭﺍﻝﺫﻱ ﻴﺠﺒﺭ ﺍﻝﺒﻨﻭﻙ ﻭﺍﻝﻤﺅﺴﺴـﺎﺕ ﺍﻝﻤﺎﻝﻴـﺔ ﻋﻠـﻰ ﺘﺄﺴﻴﺱ ﺃﻨﻅﻤﺔ ﻝﻠﻤﺭﺍﻗﺒﺔ ﺍﻝﺩﺍﺨﻠﻴﺔ ﺘﺴﺎﻋﺩﻫﺎ ﻋﻠﻰ ﻤﻭﺍﺠﻬﺔ ﻤﺨﺘﻠﻑ ﺍﻝﻤﺨﺎﻁﺭ ﺘﻤﺎﺸﻴﺎ ﻤﻊ ﻤﺎ ﻭﺭﺩ ﻓﻲ ﺍﺘﻔﺎﻗﻴـﺔ ﺒﺎﺯل . 2 8
ﻭﻴﻬﺩﻑ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺫﻜﻭﺭ ﺃﻋﻼﻩ ﺇﻝﻰ ﺘﺤﺩﻴﺩ ﻤﻀﻤﻭﻥ ﺍﻝﻤﺭﺍﻗﺒﺔ ﺍﻝﺩﺍﺨﻠﻴﺔ ﺍﻝﺘﻲ ﻴﺠـﺏ ﻋﻠـﻰ ﺍﻝﺒﻨـﻭﻙ ﻭﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻝﻤﺎﻝﻴﺔ ﺇﻗﺎﻤﺘﻬﺎ ،ﻻﺴﻴﻤﺎ ﺍﻷﻨﻅﻤﺔ ﺍﻝﻤﺘﻌﻠﻘﺔ ﺒﺘﻘﺩﻴﺭ ﻭﺘﺤﻠﻴـل ﺍﻝﻤﺨـﺎﻁﺭ ﻭﺍﻷﻨﻅﻤـﺔ ﺍﻝﺨﺎﺼـﺔ 16 ﺒﻤﺭﺍﻗﺒﺘﻬﺎ ﻭﺍﻝﺘﺤﻜﻡ ﻓﻴﻬﺎ. ﻭﻭﻓﻘﺎ ﻝﻠﻤﺎﺩﺓ ﺍﻝﺜﺎﻝﺜﺔ ﻤﻥ ﺍﻝﻨﻅﺎﻡ 03-02ﺃﻋﻼﻩ ﻓﺈﻥ ﺃﻨﻅﻤﺔ ﺍﻝﻤﺭﺍﻗﺒﺔ ﺍﻝﺩﺍﺨﻠﻴـﺔ ﺍﻝﺘـﻲ ﻋﻠـﻰ ﺍﻝﺒﻨـﻭﻙ ﻭﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻝﻤﺎﻝﻴﺔ ﺇﻗﺎﻤﺘﻬﺎ ،ﻴﻨﺒﻐﻲ ﺃﻥ ﺘﺤﺘﻭﻱ ﻋﻠﻰ ﺍﻷﻨﻅﻤﺔ ﺍﻝﺘﺎﻝﻴﺔ: ﻨﻅﺎﻡ ﻤﺭﺍﻗﺒﺔ ﺍﻝﻌﻤﻠﻴﺎﺕ ﻭﺍﻹﺠﺭﺍﺀﺍﺕ ﺍﻝﺩﺍﺨﻠﻴﺔ، ﺘﻨﻅﻴﻡ ﻤﺤﺎﺴﺒﻲ ﻭﻤﻌﺎﻝﺠﺔ ﺍﻝﻤﻌﻠﻭﻤﺎﺕ، ﺃﻨﻅﻤﺔ ﺘﻘﻴﻴﻡ ﺍﻝﻤﺨﺎﻁﺭ ﻭﺍﻝﻨﺘﺎﺌﺞ، ﺃﻨﻅﻤﺔ ﺍﻝﺭﻗﺎﺒﺔ ﻭﺍﻝﺘﺤﻜﻡ ﻓﻲ ﺍﻝﻤﺨﺎﻁﺭ، ﻨﻅﺎﻡ ﺍﻝﺘﻭﺜﻴﻕ ﻭﺍﻹﻋﻼﻡ. ﻜﻤﺎ ﻨﺸﻴﺭ ﺃﻥ ﺍﻝﻨﻅﺎﻡ 03-02ﻗﺩ ﺘﻁﺭﻕ ﺇﻝﻰ ﻤﺨﺘﻠﻑ ﺍﻹﺠﺭﺍﺀﺍﺕ ﻭﺍﻝﺘﻭﻀﻴﺤﺎﺕ ﺍﻝﻼﺯﻤﺔ ﻹﻗﺎﻤﺔ ﺍﻷﻨﻅﻤﺔ ﺍﻝﺴﺎﺒﻘﺔ ﺍﻝﺫﻜﺭ ﺒﺎﻝﺒﻨﻭﻙ ﻭﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻝﻤﺎﻝﻴﺔ ﻤﻊ ﻤﺭﺍﻋﺎﺓ ﺘﻜﻴﻴﻔﻬﺎ ﻝﻁﺒﻴﻌﺔ ﻭﺤﺠﻡ ﻨﺸﺎﻁﻬﺎ ﻭﺃﻫﻤﻴﺘﻬﺎ ﻤﻊ ﻤﺨﺘﻠﻑ ﺍﻝﻤﺨﺎﻁﺭ ﺍﻝﺘﻲ ﻗﺩ ﺘﺘﻌﺭﺽ ﻝﻬﺎ. ﻭﻤﺎ ﻴﻤﻜﻥ ﻤﻼﺤﻅﺘﻪ ﻋﻠﻰ ﺍﻝﺠﻬﺎﺯ ﺍﻝﻤﺼﺭﻓﻲ ﺍﻝﺠﺯﺍﺌﺭﻱ ﺃﻥ ﺍﻝﺘﺸﺭﻴﻊ ﺍﻝﺠﺯﺍﺌﺭﻱ ﻤﻥ ﺨﻼل ﺍﻝﺘﻨﻅﻴﻡ 09-91ﻝﺴﻨﺔ 1991ﻭﺍﻝﺘﻌﻠﻴﻤﺔ 74-94ﻝﺴﻨﺔ ،1994ﺤﺎﻭل ﺘﻁﺒﻴﻕ ﺒﻌﺽ ﻤﺎ ﺠﺎﺀ ﻓﻲ ﺍﺘﻔﺎﻗﻴﺔ ﺒﺎﺯل ،1 ﻜﻤﺎ ﺤﺎﻭل ﻤﻥ ﺨﻼل ﺍﻝﻨﻅﺎﻡ 03-02ﻝﺴﻨﺔ 2002ﺍﻝﻤﺘﻀﻤﻥ ﺍﻝﻤﺭﺍﻗﺒﺔ ﺍﻝﺩﺍﺨﻠﻴﺔ ﻝﻠﺒﻨﻭﻙ ﻭﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻝﻤﺎﻝﻴﺔ ﺘﻁﺒﻴﻕ ﺒﻨﻭﺩ ﺍﺘﻔﺎﻗﻴﺔ ﺒﺎﺯل ،2ﻝﻜﻥ ﻫﺫﺍ ﺍﻝﻨﻅﺎﻡ ﺒﻘﻲ ﻴﺤﺘﺎﺝ ﺇﻝﻰ ﺍﻝﻌﺩﻴﺩ ﻤﻥ ﺍﻝﺘﻌﻠﻴﻤﺎﺕ ﺍﻝﻤﻭﻀﺤﺔ ﻝﻜﻴﻔﻴﺔ ﺘﻁﺒﻴﻘﻪ ﺨﺎﺼﺔ ﻭﺃﻥ ﺍﺘﻔﺎﻗﻴﺔ ﺒﺎﺯل 2ﺘﺘﻤﻴﺯ ﺒﺘﻌﻘﻴﺩﺍﺕ ﻜﺒﻴﺭﺓ ﻤﻥ ﺍﻝﻨﺎﺤﻴﺔ ﺍﻝﻤﻴﺩﺍﻨﻴﺔ. ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺼﺭﻓﻲ ﺍﻝﺠﺯﺍﺌﺭﻱ ﻭﺍﻝﺤﻭﻜﻤﺔ: ﻭﺍﺠﻪ ﺍﻝﻘﻁﺎﻉ ﺍﻝﻤﺼﺭﻓﻲ ﺍﻝﺠﺯﺍﺌﺭﻱ ﺍﻝﻌﺩﻴﺩ ﻤﻥ ﺍﻝﻬﺯﺍﺕ ﺨﺎﺼﺔ ﺒﻌﺩ ﺼﺩﻭﺭ ﻗﺎﻨﻭﻥ ﺍﻝﻨﻘﺩ ﻭﺍﻝﻘﺭﺽ ﺍﻝﺫﻱ ﻓﺘﺢ ﺍﻝﻤﺠﺎل ﻝﻠﺒﻨﻭﻙ ﺍﻝﺨﺎﺼﺔ ﻭﺍﻷﺠﻨﺒﻴﺔ ﻝﻤﻤﺎﺭﺴﺔ ﻨﺸﺎﻁﻬﺎ ﻓﻲ ﺍﻝﺠﺯﺍﺌﺭ ،ﻭﻝﻌل ﻤﻥ ﺃﻫﻡ ﺍﻝﺒﻨﻭﻙ ﺍﻝﺘﻲ ﻅﻬﺭﺕ ﻫﻲ ﺒﻨﻙ ﺍﻝﺨﻠﻴﻔﺔ ﻭﺍﻝﺒﻨﻙ ﺍﻝﺼﻨﺎﻋﻲ ﻭﺍﻝﺘﺠﺎﺭﻱ ﺍﻝﺠﺯﺍﺌﺭﻱ .ﻝﻜﻥ ﺃﻫﻡ ﻤﺎ ﻤﻴﺯ ﻫﺫﻩ ﺍﻝﻤﺭﺤﻠﺔ ﻀﻌﻑ ﺭﻗﺎﺒﺔ ﺍﻝﺒﻨﻙ ﺍﻝﻤﺭﻜﺯﻱ ﻝﻬﺫﻩ ﺍﻝﺒﻨﻭﻙ ﻗﺒل ﻭﺒﻌﺩ ﺒﺩﺍﻴﺔ ﻨﺸﺎﻁﻬﺎ ﻤﻤﺎ ﺃﺩﻯ ﺒﻬﺎ ﺇﻝﻰ ﺍﻝﻭﻗﻭﻉ ﻓﻲ ﺃﺯﻤﺎﺕ ﻫﺯﺕ ﺍﻝﻘﻁﺎﻉ ﺍﻝﻤﺼﺭﻓﻲ ﺍﻝﺠﺯﺍﺌﺭﻱ ،ﺒﺎﻹﻀﺎﻓﺔ ﺇﻝﻰ ﻓﻘﺩﺍﻥ ﺍﻝﺜﻘﺔ ﻤﻥ ﻗﺒل ﺍﻝﻤﻭﺍﻁﻥ ﺍﻝﺠﺯﺍﺌﺭﻱ ﻓﻲ ﺍﻝﺒﻨﻭﻙ ﺍﻝﺨﺎﺼﺔ ﺒﺼﻔﺔ ﻋﺎﻤﺔ ،ﻭﻫﻭ ﻤﺎ ﺃﺜﺭ ﻜﺜﻴﺭﺍ ﻋﻠﻰ ﺍﻝﺒﻨﻭﻙ ﺍﻝﺨﺎﺼﺔ ﻭﺍﻷﺠﻨﺒﻴﺔ ﺍﻝﺘﻲ ﺩﺨﻠﺕ ﺍﻝﺴﻭﻕ ﺍﻝﺠﺯﺍﺌﺭﻴﺔ ﺒﻌﺩ ﺘﺼﻔﻴﺔ ﻫﺫﻴﻥ ﺍﻝﺒﻨﻜﻴﻥ. ﺇﻥ ﻤﺎ ﻤﻴﺯ ﺍﻝﻘﻁﺎﻉ ﺍﻝﻤﺼﺭﻓﻲ ﺍﻝﺠﺯﺍﺌﺭﻱ ﻓﻲ ﺘﻠﻙ ﺍﻝﻔﺘﺭﺓ ﺒﻁﺒﻴﻌﺔ ﺍﻝﺤﺎل ﻫﻭ ﺴﻭﺀ ﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﺠﻬﺎﺯ ﺍﻝﻤﺼﺭﻓﻲ ﺒﺼﻔﺔ ﻋﺎﻤﺔ ﻭﺒﻨﻙ ﺍﻝﺠﺯﺍﺌﺭ ﺒﺼﻔﺔ ﺨﺎﺼﺔ ﺒﺼﻔﺘﻪ ﺍﻝﻤﺸﺭﻑ ﻭﺍﻝﺭﻗﻴﺏ ﻋﻠﻰ ﺍﻝﺒﻨﻭﻙ ﺍﻷﺨﺭﻯ. ﻭﻗﺩ ﺃﺸﺎﺭﺕ ﺍﻝﻠﺠﻨﺔ ﺍﻝﻤﺼﺭﻓﻴﺔ – ﺇﺤﺩﻯ ﻫﻴﺂﺕ ﺒﻨﻙ ﺍﻝﺠﺯﺍﺌﺭ – ﻓﻲ ﺇﺤﺩﻯ ﻤﺫﻜﺭﺍﺘﻬﺎ ﻭﺍﻝﻤﺘﻌﻠﻘﺔ ﺒﻨﺸﺎﻁ ﺍﻝﺭﻗﺎﺒﺔ ﻭﺍﻝﺘﻔﺘﻴﺵ ،ﺃﻥ ﻤﻥ ﺒﻴﻥ ﺃﻫﻡ ﺃﺴﺒﺎﺏ ﺍﻷﺯﻤﺎﺕ ﺍﻝﻤﺎﻝﻴﺔ ﺍﻝﺘﻲ ﻭﺍﺠﻬﻬﺎ ﺍﻝﺒﻨﻜﻴﻥ )ﺍﻝﺨﻠﻴﻔﺔ ﻭﺍﻝﺒﻨﻙ ﺍﻝﺼﻨﺎﻋﻲ ﻭﺍﻝﺘﺠﺎﺭﻱ ﺍﻝﺠﺯﺍﺌﺭﻱ( ﻫﻭ ﺴﻭﺀ ﺍﻝﺤﻭﻜﻤﺔ ﺍﻝﺘﻲ ﻤﻴﺯﺕ ﺍﻝﻭﻅﻴﻔﺔ ﺍﻝﺭﻗﺎﺒﻴﺔ ﻝﺒﻨﻙ ﺍﻝﺠﺯﺍﺌﺭ ﻓﻲ ﺘﻠﻙ 17 ﺍﻝﻔﺘﺭﺓ. 18 ﻓﺒﺎﻝﻨﺴﺒﺔ ﻝﺒﻨﻙ ﺍﻝﺨﻠﻴﻔﺔ ﻓﻘﺩ ﻅﻬﺭﺕ ﺴﻭﺀ ﺍﻝﺤﻭﻜﻤﺔ ﻤﻥ ﺨﻼل ﺍﻝﻨﻘﺎﺌﺹ ﺍﻝﺘﺎﻝﻴﺔ: ﻋﺩﻡ ﺍﺤﺘﺭﺍﻡ ﺍﻹﺠﺭﺍﺀﺍﺕ ﺍﻝﻤﺤﺎﺴﺒﻴﺔ ﻝﻠﻤﺅﺴﺴﺔ؛ ﺍﻝﺘﺄﺨﻴﺭ ﻓﻲ ﺘﻘﺩﻴﻡ ﺍﻝﺘﻘﺎﺭﻴﺭ ﻝﺒﻨﻙ ﺍﻝﺠﺯﺍﺌﺭ؛ ﺍﻝﻤﺭﺍﺠﻌﺔ ﻏﻴﺭ ﺍﻝﻤﻨﺘﻅﻤﺔ ﻝﻤﻠﻔﺎﺕ ﺍﻝﺘﻭﻁﻴﻥ؛ ﻏﻴﺎﺏ ﺍﻝﻤﺘﺎﺒﻌﺔ ﻭﺍﻝﺭﻗﺎﺒﺔ؛ ﻋﺩﻡ ﺍﺤﺘﺭﺍﻡ ﻗﻭﺍﻋﺩ ﺍﻝﺤﻴﻁﺔ ﻭﺍﻝﺤﺫﺭ.ﺃﻤﺎ ﺒﺎﻝﻨﺴﺒﺔ ﻝﻠﺒﻨﻙ ﺍﻝﺼﻨﺎﻋﻲ ﻭﺍﻝﺘﺠﺎﺭﻱ ﺍﻝﺠﺯﺍﺌﺭﻱ ﺍﻝﺫﻱ ﺘﻡ ﺍﻋﺘﻤﺎﺩﻩ ﺴﻨﺔ ،1998ﻭﻓﻲ ﺇﻁﺎﺭ ﺒﺭﻨﺎﻤﺞ ﺍﻝﺭﻗﺎﺒﺔ ﺍﻝﺸﺎﻤﻠﺔ ﺍﻝﺫﻱ ﻗﺎﻡ ﺒﻪ ﺒﻨﻙ ﺍﻝﺠﺯﺍﺌﺭ ﺴﻨﺔ 2001ﻋﻠﻰ ﻤﺴﺘﻭﻯ ﻫﺫﺍ ﺍﻝﺒﻨﻙ ،ﻓﻘﺩ ﻭﺠﺩﺕ ﺍﻝﻌﺩﻴﺩ ﻤﻥ 19 ﺍﻝﺘﺠﺎﻭﺯﺍﺕ ﻝﻠﻘﻭﺍﻋﺩ ﺍﻝﻘﺎﻨﻭﻨﻴﺔ ﻭﺍﻝﺘﻨﻅﻴﻤﻴﺔ ﺍﻝﺨﺎﺼﺔ ﺒﺎﻝﻨﺸﺎﻁ ﺍﻝﺒﻨﻜﻲ ﻭﻤﻥ ﺒﻴﻨﻬﺎ: ﻋﺩﻡ ﺍﺤﺘﺭﺍﻡ ﺍﻝﺘﺴﻴﻴﺭ ﺍﻝﺠﻴﺩ ﻝﻠﻤﻬﻨﺔ ﺨﺎﺼﺔ ﻤﺎ ﻴﺘﻌﻠﻕ ﺒﻤﻌﺎﻝﺠﺔ ﺍﻝﺸﻴﻜﺎﺕ ﻏﻴﺭ ﺍﻝﻤﺩﻓﻭﻋﺔ؛ ﻋﺩﻡ ﻜﻔﺎﻴﺔ ﺍﻝﺤﺴﺎﺏ ﺍﻝﺠﺎﺭﻱ ﻝﻠﺒﻨﻙ ﻝﺩﻯ ﺒﻨﻙ ﺍﻝﺠﺯﺍﺌﺭ؛9
ﻏﻴﺎﺏ ﺍﻻﺤﺘﻴﺎﻁﻲ ﺍﻹﺠﺒﺎﺭﻱ؛ ﺘﺠﺎﻭﺯﺍﺕ ﻝﻘﻭﺍﻨﻴﻥ ﺍﻝﺼﺭﻑ.ﻭﻗﺩ ﺸﻬﺩ ﺍﻝﻘﻁﺎﻉ ﺍﻝﻤﺼﺭﻓﻲ ﺍﻝﻌﺩﻴﺩ ﻤﻥ ﺍﻷﺯﻤﺎﺕ ﺒﻌﺩ ﺘﺼﻔﻴﺔ ﻫﺫﻴﻥ ﺍﻝﺒﻨﻜﻴﻥ ﺒﻌﺩ ﺇﻋﻼﻥ ﻋﺩﻡ ﻗﺩﺭﺘﻬﻤﺎ ﻋﻠﻰ ﺍﻝﺘﺴﺩﻴﺩ ،ﺤﻴﺙ ﻗﺎﻤﺕ ﺍﻝﻠﺠﻨﺔ ﺍﻝﺒﻨﻜﻴﺔ ﻭﻤﺠﻠﺱ ﺍﻝﻘﺭﺽ ﻭﺍﻝﻨﻘﺩ ﺒﺴﺤﺏ ﺍﻻﻋﺘﻤﺎﺩ ﻤﻥ ﻋﺩﺓ ﺒﻨﻭﻙ ﺨﺎﺼﺔ ﺒﻌﺩ ﻋﻤﻠﻴﺎﺕ ﺍﻝﺭﻗﺎﺒﺔ ﺍﻝﺘﻲ ﻁﺎﻝﺕ ﻫﺫﻩ ﺍﻝﺒﻨﻭﻙ ﻋﻠﻰ ﻏﺭﺍﺭ ﺍﻝﺸﺭﻜﺔ ﺍﻝﺠﺯﺍﺌﺭﻴﺔ ﻝﻠﺒﻨﻙ ،ﻴﻭﻨﻴﻭﻥ ﺒﻨﻙ ،ﺍﻝﺒﻨﻙ ﺍﻝﺩﻭﻝﻲ ﺍﻝﺠﺯﺍﺌﺭﻱ ،ﺒﻨﻙ ﺍﻝﺭﻴﺎﻥ ﺍﻝﺠﺯﺍﺌﺭﻱ...ﺇﻝﺦ. ﺃﻤﺎ ﺍﻝﺒﻨﻭﻙ ﺍﻝﻌﻤﻭﻤﻴﺔ ﻓﻬﻲ ﻜﺫﻝﻙ ﺘﻌﺎﻨﻲ ﻤﻥ ﺴﻭﺀ ﺍﻝﺤﻭﻜﻤﺔ ،ﻭﻴﻅﻬﺭ ﺫﻝﻙ ﻤﻥ ﺨﻼل ﻋﻤﻠﻴﺎﺕ ﺍﻻﺨﺘﻼﺱ ﺍﻝﺘﻲ ﻭﻗﻌﺕ ﺒﺒﻌﺽ ﺍﻝﺒﻨﻭﻙ ﻭﺒﻤﺒﺎﻝﻎ ﻀﺨﻤﺔ ،ﺤﻴﺙ ﺃﻥ ﻫﺫﻩ ﺍﻝﺒﻨﻭﻙ ﺘﻌﺎﻨﻲ ﺒﺎﺴﺘﻤﺭﺍﺭ ﻤﻥ ﺇﺸﻜﺎﻝﻴﺔ ﺍﻝﻘﺭﻭﺽ ﺍﻝﻤﺘﻌﺜﺭﺓ ﺨﺎﺼﺔ ﺍﻝﻤﻤﻨﻭﺤﺔ ﻝﻠﻤﺅﺴﺴﺎﺕ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﺍﻝﻌﻤﻭﻤﻴﺔ ،ﻜﻤﺎ ﺘﻌﺎﻨﻲ ﺍﻝﺒﻨﻭﻙ ﺍﻝﻌﻤﻭﻤﻴﺔ ﻤﻥ ﻀﻌﻑ ﺍﻝﺭﻗﺎﺒﺔ ﺍﻝﺩﺍﺨﻠﻴﺔ ﻭﺍﻝﺨﺎﺭﺠﻴﺔ ،ﺒﺎﻹﻀﺎﻓﺔ ﺇﻝﻰ ﻋﺩﻡ ﺘﻁﺒﻴﻘﻬﺎ ﻝﻜل ﻗﻭﺍﻋﺩ ﺍﻝﺤﻴﻁﺔ ﻭﺍﻝﺤﺫﺭ ﺍﻝﻤﻌﺘﻤﺩﺓ. ﺒﺭﻨﺎﻤﺞ ﺍﻝﻌﻤل ﺍﻝﻭﻁﻨﻲ ﻓﻲ ﻤﺠﺎل ﺍﻝﺤﻜﺎﻤﺔ: ﺘﻨﻔﻴﺫﺍ ﻝﺒﺭﻨﺎﻤﺞ ﺍﻝﻌﻤل ﺍﻝﻭﻁﻨﻲ ﻓﻲ ﻤﺠﺎل ﺍﻝﺤﻜﺎﻤﺔ ﻋﻠﻰ ﻤﺴﺘﻭﻯ ﺍﻝﻘﻁﺎﻉ ﺍﻝﺒﻨﻜﻲ ،ﻓﻘﺩ ﺘﻡ ﺇﺩﺨﺎل ﻨﻅﺎﻡ ﺒﺎﺯل 2ﻓﻲ ﺍﻝﺒﻨﻭﻙ ﻭﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻝﻤﺎﻝﻴﺔ ﺒﻐﻴﺔ ﺘﺤﺴﻴﻥ ﺘﺴﻴﻴﺭ ﺍﻝﻤﺨﺎﻁﺭ ﻭﺘﻌﺯﻴﺯ ﺍﻝﺭﻗﺎﺒﺔ ﻭﺍﻻﻨﻀﺒﺎﻁ ﻓﻲ ﺍﻝﺴﻭﻕ ﻭﺫﻝﻙ ﺒﺘﻁﺒﻴﻕ ﺭﻜﺎﺌﺯﻩ ﺍﻝﺜﻼﺙ ،20ﺤﻴﺙ ﻭﺘﻨﻔﻴﺫﺍ ﻝﻬﺫﺍ ﺍﻝﻤﺸﺭﻭﻉ ﺍﻋﺘﻤﺩ ﺒﻨﻙ ﺍﻝﺠﺯﺍﺌﺭ ﺘﺩﺍﺒﻴﺭ ﺘﺩﺭﻴﺠﻴﺔ 21 ﻭﻤﻨﺴﻘﺔ ﻤﻊ ﺍﻷﻭﺴﺎﻁ ﺍﻝﻤﺼﺭﻓﻴﺔ ،ﻭﻗﺩ ﺍﺘﺨﺫ ﻋﺩﺓ ﺇﺠﺭﺍﺀﺍﺕ ﺭﺌﻴﺴﻴﺔ ﻭﻫﻲ ﻜﻤﺎ ﻴﻠﻲ: ﺇﻨﺸﺎﺀ ﻓﺭﻴﻕ ﻤﺨﺼﺹ ﻝﻤﺸﺭﻭﻉ ﺍﺘﻔﺎﻕ ﺒﺎﺯل 2ﺘﺤﺕ ﺇﺸﺭﺍﻑ ﻤﺴﺎﻋﺩﺓ ﺨﺎﺭﺠﻴﺔ ،ﻭﻴﻌﻤل ﺒﺎﻝﺘﺸﺎﻭﺭﻤﻊ ﺍﻝﻔﺭﻴﻕ ﺍﻝﻤﺴﺅﻭل ﻋﻠﻰ ﺘﻨﻔﻴﺫ ﻤﺸﺭﻭﻉ ﺍﻝﻤﻌﺎﻴﻴﺭ ﺍﻝﻤﺤﺎﺴﺒﻴﺔ ﺍﻝﺩﻭﻝﻴﺔ. ﺇﻋﺩﺍﺩ ﺍﺴﺘﺒﻴﺎﻨﻴﻥ ﻭﻭﻀﻌﻬﻤﺎ ﺘﺤﺕ ﺘﺼﺭﻑ ﺍﻝﺒﻨﻭﻙ ﺍﻝﺘﺠﺎﺭﻴﺔ ﺒﻐﻴﺔ ﺘﻘﻴﻴﻡ ﻤﺩﻯ ﺍﺴﺘﻌﺩﺍﺩﻫﺎ ﻝﺘﻠﺒﻴﺔﻤﻘﺘﻀﻴﺎﺕ ﺒﺎﺯل 2ﺒﺭﻜﺎﺌﺯﻩ ﺍﻝﺜﻼﺙ. ﺇﻋﺩﺍﺩ ﺩﺭﺍﺴﺔ ﺍﻷﺜﺭ ﺍﻝﻜﻤﻲ ﻝﻬﺫﺍ ﺍﻝﻨﻅﺎﻡ ﻤﻥ ﻁﺭﻑ ﺒﻨﻙ ﺍﻝﺠﺯﺍﺌﺭ )ﻤﻁﻠﺏ ﺭﺌﻴﺴﻲ ﻴﺘﻌﻠﻕ ﺒﺎﻷﻤﻭﺍلﺍﻝﺨﺎﺼﺔ(. ﻭﺘﻨﻔﻴﺫﺍ ﻝﺫﺍﺕ ﺍﻝﺒﺭﻨﺎﻤﺞ ﻓﻘﺩ ﺃﺩﺨﻠﺕ ﺍﻝﺠﺯﺍﺌﺭ ﻋﻠﻰ ﺍﻝﻘﻁﺎﻉ ﺍﻝﺒﻨﻜﻲ ﻋﺩﺓ ﺇﺼﻼﺤﺎﺕ ﺒﻬﺩﻑ ﺘﺤﺴﻴﻥ ﺍﻝﺤﻭﻜﻤﺔ ﻋﻠﻰ ﻤﺴﺘﻭﻯ ﺍﻝﺒﻨﻭﻙ ﻭﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻝﻤﺎﻝﻴﺔ ﻤﻥ ﺨﻼل ﺘﻌﺯﻴﺯ ﺍﺴﺘﻘﺭﺍﺭ ﺍﻝﻘﻁﺎﻉ ﺍﻝﺒﻨﻜﻲ ﻭﻤﺭﺩﻭﺩﻴﺘﻪ، ﻋﺼﺭﻨﺔ ﺍﻝﻬﻴﺎﻜل ﺍﻝﻘﺎﻋﺩﻴﺔ ﻭﺍﻝﺘﻘﻨﻴﺔ ﻭﺍﻝﻤﺎﺩﻴﺔ ﻝﻠﺒﻨﻭﻙ ﻭﺘﺤﺴﻴﻥ ﻨﻭﻋﻴﺔ ﺍﻝﺨﺩﻤﺎﺕ .ﻭﻗﺩ ﺘﺭﺠﻡ ﺘﻨﻔﻴﺫ ﻫﺫﻩ ﺍﻹﺼﻼﺤﺎﺕ ﺒﻤﺎ ﻴﻠﻲ: ﻭﻀﻊ ﻋﻘﻭﺩ ﺍﻝﻜﻔﺎﺀﺓ :ﺤﻴﺙ ﺘﻡ ﺇﻋﺩﺍﺩ ﻋﻘﻭﺩ ﻨﺠﺎﻋﺔ ﺠﺩﻴﺩﺓ ﻝﺭﻭﺍﺘﺏ ﻤﺴﻴﺭﻱ ﺍﻝﺒﻨﻭﻙ ﻭﺫﻝﻙ ﺒﻌﺩﺘﻘﻴﻴﻡ ﻋﻘﻭﺩ ﺍﻝﻨﺠﺎﻋﺔ ﻝﺴﻨﺔ .2004 ﺘﺤﺴﻴﻥ ﺩﻭﺭ ﻤﺠﺎﻝﺱ ﺍﻹﺩﺍﺭﺓ :ﻭﺫﻝﻙ ﻤﻥ ﺨﻼل ﺇﻋﺎﺩﺓ ﺘﺸﻜﻴﻠﻬﺎ ﻭﻭﻀﻊ ﺘﻨﻅﻴﻤﺎﺕ ﺠﺩﻴﺩﺓ ﺘﻘﻀﻲﺒﺈﻨﺸﺎﺀ ﻝﺠﻨﺔ ﺘﺩﻗﻴﻕ ،ﻭﻫﺫﺍ ﺍﻝﺩﻭﺭ ﺴﻴﺘﻌﺯﺯ ﻤﻥ ﺨﻼل ﺘﻌﺯﻴﺯ ﺨﺒﺭﺓ ﺍﻷﻋﻀﺎﺀ. ﺘﺤﺴﻴﻥ ﺇﺩﺍﺭﺓ ﺍﻝﺒﻨﻭﻙ :ﻭﺫﻝﻙ ﻋﺒﺭ ﺇﻋﺩﺍﺩ ﻤﻴﺜﺎﻕ ﻝﻠﻤﺴﺅﻭﻝﻴﺎﺕ ﺍﻹﺩﺍﺭﻴﺔ ﻭﻤﺩﻭﻨﺔ ﺃﺨﻼﻕ ﺍﻝﻤﻬﻨﺔ. ﺘﺤﺴﻴﻥ ﻅﺭﻭﻑ ﺍﻻﺴﺘﻐﻼل ﺍﻝﺒﻨﻜﻲ :ﻤﻥ ﺨﻼل ﺇﻋﺩﺍﺩ ﺍﻝﺒﻨﻭﻙ ﻝﺘﻨﻔﻴﺫ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺤﺎﺴﺒﻲ ﺍﻝﻤﺎﻝﻲ ﺍﻝﺠﺩﻴﺩﻭﺘﻁﺒﻴﻕ ﻤﻌﺎﻴﻴﺭ ﺒﺎﺯل ، 2ﻭﻜﺫﺍ ﻤﻥ ﺨﻼل ﺘﺜﻤﻴﻥ ﺃﻓﻀل ﻝﻠﻤﻭﺍﺭﺩ ﺍﻝﺒﺸﺭﻴﺔ ) ﻨﻅﺎﻡ ﺍﻷﺠﺭ ﺍﻝﻤﺘﻐﻴﺭ 22 ﺍﻝﻤﻘﺭﻭﻥ ﺒﺎﻷﺩﺍﺀ(. ﻭﻗﺩ ﺘﺠﺴﺩﺕ ﻋﻤﻠﻴﺔ ﺘﺤﺩﻴﺙ ﺍﻝﻬﻴﺎﻜل ﺍﻝﻘﺎﻋﺩﻴﺔ ﺍﻝﺘﻘﻨﻴﺔ ﻭﺍﻝﻤﺎﺩﻴﺔ ﻝﻠﺒﻨﻭﻙ ﻭﺘﻌﺯﻴﺯﻫﺎ ﻤﻨﺫ ﻋﺎﻡ 2006ﺒﻭﻀﻊ ﻨﻅﺎﻡ ﻝﻠﺘﺴﻭﻴﺎﺕ ﻭﺍﻝﺘﺴﺩﻴﺩ ﺍﻝﻔﻭﺭﻱ ﻓﻲ ﻭﻗﺕ ﻗﻴﺎﺴﻲ ﻝﻠﻤﺒﺎﻝﻎ ﺍﻝﻜﺒﻴﺭﺓ ،ﻭﻜﺫﺍ ﻨﻅﺎﻡ ﺩﺍﺨﻠﻲ ﻝﻺﻋﻼﻡ ﻭﺍﻝﻤﻘﺎﺼﺔ ﺍﻵﻝﻴﺔ ﻝﻠﺘﺴﺩﻴﺩ ) (ATCIﻭﻗﺩ ﺸﺭﻉ ﺍﻝﻌﻤل ﺒﻬﺫﺍ ﺍﻝﻨﻅﺎﻡ ﻓﻲ ﻨﻬﺎﻴﺔ ﺠﻭﻴﻠﻴﺔ ،2008ﺇﺫ ﺃﻥ % 96.4ﻤﻥ ﻤﻘﺎﺼﺔ ﺃﺩﺍﺓ ﺍﻝﺩﻓﻊ ﺘﺘ ﻡ ﺒﻁﺭﻴﻘﺔ ﺇﻝﻜﺘﺭﻭﻨﻴﺔ .ﻭﻗﺩ ﺴﻤﺢ ﻫﺫﺍ ﺍﻝﻨﻅﺎﻡ ﺒﺘﻬﻴﺌﺔ ﺇﻁﺎﺭ ﻗﺎﻨﻭﻨﻲ ﻭﺘﻨﻅﻴﻤﻲ ،ﻭﻀﻊ ﻭﺍﻋﺘﻤﺎﺩ ﺍﻝﻤﻌﺎﻴﻴﺭ ﺍﻝﻤﻁﺒﻘﺔ ﻋﻠﻰ ﺠﻤﻴﻊ ﺃﺩﻭﺍﺕ ﺍﻝﺩﻓﻊ ﺒﻤﺎ ﻓﻴﻬﺎ ﺍﺴﺘﺨﺩﺍﻡ ﺒﻁﺎﻗﺎﺕ ﺍﻻﺌﺘﻤﺎﻥ ﺍﻝﻤﺼﺭﻓﻴﺔ ،ﻭﻀﻊ ﺸﺒﻜﺔ ﻤﻜﻴﻔﺔ 23 ﻭﻤﻭﺜﻭﻗﺔ ﻝﻼﺘﺼﺎل ﺍﻝﺴﻠﻜﻲ ﻭﺍﻝﻼ ﺴﻠﻜﻲ ﺒﻴﻥ ﺍﻝﺒﻨﻭﻙ ﻭﺘﻌﺯﻴﺯ ﺍﻝﺭﻗﺎﺒﺔ.... ﻭﻓﻲ ﻤﺠﺎل ﺍﻝﺘﺩﻗﻴﻕ ﻭﺍﻝﻜﺸﻑ ﺍﻝﺒﻨﻜﻲ ،ﻭﺒﻐﻴﺔ ﻀﻤﺎﻥ ﻨﺯﺍﻫﺔ ﺍﻝﻨﻅﺎﻡ ﺍﻝﺒﻨﻜﻲ ﻭﺴﻼﻤﺘﻪ ،ﻴﺸﺭﻑ ﺒﻨﻙ ﺍﻝﺠﺯﺍﺌﺭ ﻭﺍﻝﻠﺠﻨﺔ ﺍﻝﺒﻨﻜﻴﺔ ﺒﺼﺭﺍﻤﺔ ﺘﻨﻔﻴﺫﺍ ﻝﻠﺘﻌﻠﻴﻤﺔ ﺍﻝﺼﺎﺩﺭﺓ ﻋﻥ ﻤﺠﻠﺱ ﺍﻝﻨﻘﺩ ﻭﺍﻝﻘﺭﺽ ﻋﻠﻰ ﺍﻝﺘﺩﻗﻴﻕ ﺍﻝﺩﺍﺌﻡ ﻝﻠﺒﻨﻭﻙ ﻭﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻝﻤﺎﻝﻴﺔ ﺴﻴﻤﺎ ﺇﺠﺭﺍﺀﺍﺕ ﺘﻘﻴﻴﻡ ﺍﻷﺨﻁﺎﺭ ﻭﺭﺼﺩﻫﺎ ﻭﺘﺴﻴﻴﺭﻫﺎ ﻭﺍﻝﺘﺤﻜﻡ ﻓﻴﻬﺎ .ﻭﺇﻀﺎﻓﺔ ﺇﻝﻰ ﺍﻝﺘﺩﻗﻴﻕ ﻋﻠﻰ ﺍﻝﻭﺜﺎﺌﻕ ﺍﻝﺠﺎﺭﻱ ﻋﻠﻰ ﺃﺴﺎﺱ ﺘﺼﺭﻴﺤﺎﺕ ﺍﻝﺒﻨﻭﻙ ﻭﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻝﻤﺎﻝﻴﺔ ﻝﺩﻯ ﺒﻨﻙ ﺍﻝﺠﺯﺍﺌﺭ ﻭﺍﻝﺫﻱ 10
ﻴﺸﻜل ﺍﻝﺨﻁﻭﺓ ﺍﻷﻭﻝﻰ ﻝﻨﻅﺎﻡ ﺍﻹﻨﺫﺍﺭ ،ﻴﺴﺎﺭﻉ ﺒﻨﻙ ﺍﻝﺠﺯﺍﺌﺭ ﻓﻲ ﺇﺭﺴﺎل ﻓﺭﻕ ﻤﻴﺩﺍﻨﻴﺔ ﻝﻠﺘﺩﻗﻴﻕ ﺇﻝﻰ ﺍﻝﺒﻨﻭﻙ 24 ﻭﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻝﻤﺎﻝﻴﺔ ﺒﻬﺩﻑ ﻀﻤﺎﻥ ﺍﻝﺘﻁﻭﻴﺭ ﺍﻝﻤﻨﻅﻡ ﻝﻠﻭﺴﺎﻁﺔ ﺍﻝﺒﻨﻜﻴﺔ. ﻜﻤﺎ ﻜﺸﻑ ﻤﺤﺎﻓﻅ ﺒﻨﻙ ﺍﻝﺠﺯﺍﺌﺭ ﻋﻥ ﺍﻋﺘﻤﺎﺩ ﻨﻅﺎﻡ ﻤﺭﺍﻗﺒﺔ ﻭﺘﻘﻴﻴﻡ ﺨﺎﺹ ﺒﺎﻝﺒﻨﻭﻙ ﺨﻼل ﺍﻝﺴﺩﺍﺴﻲ ﺍﻝﺜﺎﻨﻲ ﻤﻥ ﺴﻨﺔ ،2009ﻭﻴﺘﻌﻠﻕ ﺒﻤﺭﺍﻗﺒﺔ ﺍﻝﻤﻼﺀﺓ ﻭﻨﺴﺒﺔ ﺍﻝﺴﻴﻭﻝﺔ ﻭﺍﻝﻘﺩﺭﺓ ﻋﻠﻰ ﺍﻝﺘﺴﺩﻴﺩ ،ﺃﻱ ﻤﺩﻯ ﺍﺤﺘﺭﺍﻡ ﺍﻝﺒﻨﻭﻙ ﻝﻘﻭﺍﻋﺩ ﺍﻝﺤﻴﻁﺔ ﻭﺍﻝﺤﺫﺭ ﻭﻨﺴﺏ ﺍﻝﻘﺭﻭﺽ ﺍﻝﻤﻌﺘﻤﺩﺓ ﻤﻘﺎﺭﻨﺔ ﺒﺭﺃﺱ ﺍﻝﻤﺎل ،ﺤﻴﺙ ﻴﻨﺩﺭﺝ ﻫﺫﺍ ﺍﻝﻨﻅﺎﻡ ﺍﻝﺠﺩﻴﺩ ﻓﻲ ﺴﻴﺎﻕ ﺘﺩﻋﻴﻡ ﺍﻝﺭﻗﺎﺒﺔ ﻋﻠﻰ ﺍﻝﺒﻨﻭﻙ ،ﺒﺎﻹﻀﺎﻓﺔ ﺇﻝﻰ ﻭﻀﻊ ﻨﻅﺎﻡ ﺘﻨﻘﻴﻁ ﻝﻠﻤﺅﺴﺴﺎﺕ ﻝﺘﻘﻴﻴﻡ ﻤﺭﺩﻭﺩﻴﺘﻬﺎ ﻭﻗﺩﺭﺘﻬﺎ 25 ﻋﻠﻰ ﺘﺴﻴﻴﺭ ﺍﻝﻤﻭﺍﺭﺩ ﺍﻝﻤﺎﻝﻴﺔ ﺍﻝﻤﺘﺎﺤﺔ. ﻭﻓﻲ ﻤﺎﻱ 2009ﺃﺼﺩﺭ ﺒﻨﻙ ﺍﻝﺠﺯﺍﺌﺭ ﻨﻅﺎﻤﺎ ﻴﺤﺩﺩ ﻓﻴﻪ ﺍﻝﻘﻭﺍﻋﺩ ﺍﻝﺠﺩﻴﺩﺓ ﻓﻲ ﻤﺠﺎل ﺍﻝﺸﺭﻭﻁ ﺍﻝﺒﻨﻜﻴﺔ ﺍﻝﻤﻁﺒﻘﺔ ﻋﻠﻰ ﺍﻝﻌﻤﻠﻴﺎﺕ ﺍﻝﻤﺼﺭﻓﻴﺔ ﻝﻠﺒﻨﻭﻙ ﻭﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻝﻤﺎﻝﻴﺔ ،ﺤﻴﺙ ﺃﻨﻪ ﻴﻤﻜﻥ ﻝﻠﺒﻨﻭﻙ ﻭﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻝﻤﺎﻝﻴﺔ ﺃﻥ ﺘﻘﺘﺭﺡ ﻋﻠﻰ ﺯﺒﺎﺌﻨﻬﺎ ﺨﺩﻤﺎﺕ ﻤﺼﺭﻓﻴﺔ ﺨﺎﺼﺔ ،ﻏﻴﺭ ﺃﻨﻪ ﻤﻥ ﺃﺠل ﺘﻘﺩﻴﺭ ﺃﻓﻀل ﻝﻠﻤﺨﺎﻁﺭ ﺍﻝﻤﺘﻌﻠﻘﺔ ﺒﺎﻝﻤﻨﺘﻭﺝ ﺍﻝﺠﺩﻴﺩ ﻭﻝﻀﻤﺎﻥ ﺍﻻﻨﺴﺠﺎﻡ ﺒﻴﻥ ﺍﻷﺩﻭﺍﺕ ﻴﺘﻌﻴﻥ ﺃﻥ ﻴﺨﻀﻊ ﻜل ﻋﺭﺽ ﻤﻨﺘﻭﺝ ﺠﺩﻴﺩ ﻓﻲ ﺍﻝﺴﻭﻕ ﺇﻝﻰ ﺘﺭﺨﻴﺹ ﻤﺴﺒﻕ ﻴﻤﻨﺤﻪ ﺒﻨﻙ ﺍﻝﺠﺯﺍﺌﺭ.26 ﻭﻗﺩ ﺠﺎﺀ ﻓﻲ ﻫﺫﺍ ﺍﻝﻨﻅﺎﻡ ﻭﻭﻓﻘﺎ ﻝﻠﻤﺎﺩﺓ ﺍﻝﺭﺍﺒﻌﺔ ﻤﻨﻪ ﺃﻥ ﺍﻝﺒﻨﻭﻙ ﻭﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻝﻤﺎﻝﻴﺔ ﺘﺤﺩﺩ ﺒﻜل ﺤﺭﻴﺔ ﻤﻌﺩﻻﺕ ﺍﻝﻔﺎﺌﺩﺓ ﺍﻝﺩﺍﺌﻨﺔ ﻭﺍﻝﻤﺩﻴﻨﺔ ﻭﻜﺫﺍ ﻤﻌﺩﻻﺕ ﻭﻤﺴﺘﻭﻯ ﺍﻝﻌﻤﻭﻻﺕ ﺍﻝﻤﻁﺒﻘﺔ ﻋﻠﻰ ﺍﻝﻌﻤﻠﻴﺎﺕ ﺍﻝﻤﺼﺭﻓﻴﺔ، ﻏﻴﺭ ﺃﻥ ﺒﻨﻙ ﺍﻝﺠﺯﺍﺌﺭ ﻴﻤﻜﻨﻪ ﺃﻥ ﻴﺤﺩﺩ ﻤﻌﺩل ﺍﻝﻔﺎﺌﺩﺓ ﺍﻝﺯﺍﺌﺩ ﻭﻻ ﻴﻤﻜﻥ ﻓﻲ ﺃﻱ ﺤﺎل ﻤﻥ ﺍﻷﺤﻭﺍل ﺃﻥ ﺘﺘﺠﺎﻭﺯ ﻤﻌﺩﻻﺕ ﺍﻝﻔﺎﺌﺩﺓ ﺍﻝﻔﻌﻠﻴﺔ ﺍﻹﺠﻤﺎﻝﻴﺔ ﻋﻠﻰ ﺍﻝﻘﺭﻭﺽ ﺍﻝﻤﻭﺯﻋﺔ ﻤﻥ ﻁﺭﻑ ﺍﻝﺒﻨﻭﻙ ﻭﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻝﻤﺎﻝﻴﺔ ﻤﻌﺩل ﺍﻝﻔﺎﺌﺩﺓ ﺍﻝﺯﺍﺌﺩ. ﺇﻁﻼﻕ ﺍﻝﻤﺩﻭﻨﺔ ﺍﻝﺠﺯﺍﺌﺭﻴﺔ ﻝﺤﻭﻜﻤﺔ ﺍﻝﺸﺭﻜﺎﺕ: ﺘﻡ ﺇﺼﺩﺍﺭ ﺍﻝﻤﺩﻭﻨﺔ ﺍﻝﺠﺯﺍﺌﺭﻴﺔ ﻝﺤﻭﻜﻤﺔ ﺍﻝﺸﺭﻜﺎﺕ ﻓﻲ 2009/03/11ﻭﺍﻝﺫﻱ ﺠﺎﺀ ﻓﻲ ﺍﻝﻭﻗﺕ ﺍﻝﻤﻨﺎﺴﺏ ،ﺤﻴﺙ ﺃﻥ ﺘﻁﺒﻴﻕ ﻗﻭﺍﻋﺩ ﺤﻭﻜﻤﺔ ﺍﻝﺸﺭﻜﺎﺕ ﺴﻴﺴﺎﻋﺩ ﻓﻲ ﺒﻨﺎﺀ ﺍﻝﺜﻘﺔ ﺍﻝﻤﺘﺒﺎﺩﻝﺔ ﻤﻊ ﺍﻝﻘﻁﺎﻉ ﺍﻝﻤﺼﺭﻓﻲ ،ﻓﻲ ﻭﻗﺕ ﺘﺘﺯﺍﻴﺩ ﻓﻴﻪ ﺃﻫﻤﻴﺔ ﺍﻝﺤﺼﻭل ﻋﻠﻰ ﺭﺃﺱ ﺍﻝﻤﺎل ﻭﺘﻌﺯﻴﺯ ﺍﻝﻨﻤﻭ ﺍﻻﻗﺘﺼﺎﺩﻱ ﺍﻝﺫﻱ ﻴﻌﺩ ﺍﻝﺤﺠﺭ ﺍﻷﺴﺎﺱ ﻓﻲ ﺘﺨﻁﻲ ﺍﻷﺯﻤﺔ ﺍﻝﻤﺎﻝﻴﺔ ﺍﻝﻌﺎﻝﻤﻴﺔ ﻭﺍﻝﺘﻘﻠﻴل ﻤﻥ ﺘﺩﺍﻋﻴﺎﺘﻬﺎ ﻋﻠﻰ ﺍﻻﻗﺘﺼﺎﺩ ﺍﻝﺠﺯﺍﺌﺭﻱ.27 ﻭﻗﺩ ﺃﻜﺩ ﺭﺌﻴﺱ ﺇﺩﺍﺭﺓ ﻓﺭﻴﻕ ﺍﻝﻌﻤل ﺍﻝﺠﺯﺍﺌﺭﻱ ﻝﺤﻭﻜﻤﺔ ﺍﻝﺸﺭﻜﺎﺕ ﺃﻥ ﻏﻴﺎﺏ ﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﻨﻁﺎﻕ ﺍﻝﺸﺭﻜﺔ ﺫﺍﺘﻬﺎ ﻴﺤﺩ ﻤﻥ ﺇﻤﻜﺎﻨﻴﺎﺕ ﺍﻻﺒﺘﻜﺎﺭ ﻭﺍﻝﺘﻁﻭﺭ ،ﻭﻝﻥ ﻴﻘﻭﻡ ﺭﺠﺎل ﺍﻝﻤﺼﺎﺭﻑ ﺃﻭ ﺍﻝﺸﺭﻜﺎﺀ ﺃﻭ ﺍﻝﻤﺴﺘﺜﻤﺭﻭﻥ ﺒﺎﻻﺴﺘﺜﻤﺎﺭ ﻓﻲ ﻤﺸﺭﻭﻋﺎﺕ ﻀﻌﻴﻔﺔ ﺍﻝﺤﻭﻜﻤﺔ ،ﻝﺫﺍ ﻓﺈﻥ ﺍﻻﻝﺘﺯﺍﻡ ﺒﻤﺩﻭﻨﺔ ﺤﻭﻜﻤﺔ ﺍﻝﺸﺭﻜﺎﺕ ﺴﻴﺨﻠﻕ ﻤﻭﺍﺭﺩ ﺃﻜﺒﺭ ﻭﻴﺴﺎﻋﺩ ﻋﻠﻰ ﺘﻨﻤﻴﺔ ﺍﻷﻋﻤﺎل.28 ﻭﻓﻲ ﻨﻔﺱ ﺍﻝﺴﻴﺎﻕ ﻓﻘﺩ ﺃﻜﺩ ﺍﻝﺴﻴﺩ ﻤﺼﻁﻔﻰ ﺒﻥ ﺒﺎﺩﺍ ﻭﺯﻴﺭ ﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻝﺼﻐﻴﺭﺓ ﻭﺍﻝﻤﺘﻭﺴﻁﺔ ﺃﻥ ﺍﻝﺤﻭﻜﻤﺔ ﺍﻝﺭﺸﻴﺩﺓ ﺴﺘﻌﻤل ﻋﻠﻰ ﺘﺤﺴﻴﻥ ﺍﻝﻌﻼﻗﺎﺕ ﺒﻴﻥ ﺍﻝﺒﻨﻭﻙ ﻭﻤﻨﺸﺂﺕ ﺍﻷﻋﻤﺎل ﻤﻥ ﺨﻼل ﺘﻌﺯﻴﺯ ﺍﻝﺜﻘﺔ ﺍﻝﻤﺘﺒﺎﺩﻝﺔ ﺍﻝﻤﻔﺘﻘﺩﺓ ﻓﻲ ﺍﻝﻭﻗﺕ ﺍﻝﺤﺎﻝﻲ ﻭﺫﻝﻙ ﻤﻥ ﺨﻼل ﺍﻝﻤﺯﻴﺩ ﻤﻥ ﺍﻝﺸﻔﺎﻓﻴﺔ.29 ﺨﺎﻤﺴﺎ :ﻤﺴﺘﺠﺩﺍﺕ ﺍﻷﺯﻤﺔ ﺍﻝﻤﺎﻝﻴﺔ ﺍﻝﻌﺎﻝﻤﻴﺔ ﻭﺍﻝﺤﻭﻜﻤﺔ. ﻫﻨﺎﻙ ﺃﻫﻤﻴﺔ ﻜﺒﻴﺭﺓ ﻝﻠﻌﻼﻗﺔ ﺒﻴﻥ ﺍﻷﺯﻤﺔ ﺍﻝﻤﺎﻝﻴﺔ ﺍﻝﻌﺎﻝﻤﻴﺔ ﻭﺍﻝﺤﻭﻜﻤﺔ ،ﺤﻴﺙ ﻜﺸﻔﺕ ﺍﻷﺯﻤﺔ ﺤﺎﻻﺕ ﻜﺜﻴﺭﺓ ﻝﻠﻔﺸل ﻓﻲ ﻗﻭﺍﻋﺩ ﺍﻝﺤﻭﻜﻤﺔ ﻭﺘﺭﻜﻴﺒﺔ ﻤﺠﺎﻝﺱ ﺍﻹﺩﺍﺭﺓ ﻭﺇﺩﺍﺭﺓ ﺍﻝﻤﺨﺎﻁﺭ ،ﺒﺎﻹﻀﺎﻓﺔ ﺇﻝﻰ ﻓﺸل ﺍﻝﺠﻬﺎﺕ ﺍﻝﺘﻨﻅﻴﻤﻴﺔ ﻭﺍﻝﺭﻗﺎﺒﻴﺔ ﻓﻲ ﻜﺜﻴﺭ ﻤﻥ ﺍﻝﺩﻭل ﻓﻲ ﺘﻘﺩﻴﺭ ﺤﺠﻡ ﺍﻝﻤﺨﺎﻁﺭ ﺒﺼﻭﺭﺓ ﺴﻠﻴﻤﺔ ﻭﺼﺤﻴﺤﺔ ﻭﻝﻡ ﺘﺘﺭﺠﻤﻬﺎ ﺇﻝﻰ ﺇﺠﺭﺍﺀﺍﺕ ﺘﻨﻔﻴﺫﻴﺔ ﻭﺍﻀﺤﺔ. ﻭﻗﺩ ﺃﻜﺩ ﺍﻝﺩﻜﺘﻭﺭ ﻨﺎﺼﺭ ﺍﻝﺴﻌﻴﺩﻱ ﻓﻲ ﻫﺫﺍ ﺍﻝﺸﺄﻥ ﻋﻠﻰ ﺃﻫﻤﻴﺔ ﻤﻌﺎﻴﻴﺭ ﻝﺠﻨﺔ ﺒﺎﺯل ) (2ﻹﺩﺍﺭﺓ ﻤﺨﺎﻁﺭ ﺍﻝﺴﻴﻭﻝﺔ ﻭﻜﻔﺎﺀﺓ ﺭﺃﺱ ﺍﻝﻤﺎل ﻭﻫﻭ ﻤﺎ ﺘﺤﺘﺎﺠﻪ ﺠﻤﻴﻊ ﺍﻝﺩﻭل ﻓﻲ ﺍﻝﻭﻗﺕ ﺍﻝﺤﺎﻝﻲ ،ﻜﻤﺎ ﺃﻜﺩ ﻋﻠﻰ ﺃﻫﻤﻴﺔ ﺤﻭﻜﻤﺔ ﺍﻝﺠﻬﺎﺕ ﺍﻝﺭﻗﺎﺒﻴﺔ ﻨﻔﺴﻬﺎ ﻭﻝﻴﺱ ﺍﻝﻤﺅﺴﺴﺎﺕ ﻓﻘﻁ.30 ﻭﻗﺩ ﺃﻜﺩ ﺍﻝﻤﺩﻴﺭ ﺍﻝﺘﻨﻔﻴﺫﻱ ﻝﻤﺭﻜﺯ ﺍﻝﻤﺸﺭﻭﻋﺎﺕ ﺍﻝﺩﻭﻝﻴﺔ ﺍﻝﺨﺎﺼﺔ ﺠﻭﻥ ﺩ.ﺴﻭﻝﻴﻔﺎﻥ ﺃﻥ ﺍﻷﺯﻤﺔ ﺍﻝﻤﺎﻝﻴﺔ ﺍﻝﻌﺎﻝﻤﻴﺔ ﺃﻅﻬﺭﺕ ﺤﻘﻴﻘﺔ ﻤﻔﺎﺩﻫﺎ ﺃﻨﻪ ﻴﻨﺒﻐﻲ ﺍﻻﻫﺘﻤﺎﻡ ﻜﺜﻴﺭﺍ ﺒﺎﻝﺘﻭﺍﺯﻥ ﺒﻴﻥ ﺍﻝﻬﻴﺎﻜل ﺍﻷﺴﺎﺴﻴﺔ ﻭﺍﻝﻘﻭﺍﻋﺩ ﺍﻝﺘﻲ ﺘﻌﺯﺯ ﺍﻷﺴﻭﺍﻕ ،ﻭﺒﻴﻥ ﺤﺠﻡ ﺍﻝﻤﺨﺎﻁﺭ ﺍﻝﺘﻲ ﺘﺨﻠﻘﻬﺎ .ﻭﺇﻥ ﻝﻡ ﻴﺘﻡ ﻓﻬﻡ ﻫﺫﺍ ﺍﻝﺘﻭﺍﺯﻥ ﺠﻴﺩﺍ ﻓﺈﻥ ﺍﺤﺘﻤﺎﻻﺕ ﻭﻗﻭﻉ ﺍﻷﺯﻤﺎﺕ ﺍﻝﻤﺎﻝﻴﺔ ﻭﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﺘﺘﺯﺍﻴﺩ ﺒﺩﺭﺠﺔ ﻜﺒﻴﺭﺓ ،ﻜﻤﺎ ﺃﻥ ﺍﻝﺘﺭﻜﻴﺯ ﻓﻘﻁ ﻋﻠﻰ ﺁﻝﻴﺎﺕ ﺍﻝﺴﻭﻕ ﺩﻭﻥ ﺘﻭﺠﻴﻪ ﺍﻫﺘﻤﺎﻡ ﻜﺎﻑ ﻵﻝﻴﺎﺕ ﺍﻝﺤﻭﻜﻤﺔ ﻴﻌﻨﻲ ﺃﻨﻨﺎ ﻨﻌﺎﻝﺞ ﻨﺼﻑ ﺍﻝﻤﺸﻜﻠﺔ ﻓﺤﺴﺏ.31
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ﻜﻤﺎ ﺃﻜﺩ ﺍﻝﻤﺸﺎﺭﻜﻭﻥ ﻓﻲ ﻤﺭﺍﺠﻌﺔ ﻤﺒﺎﺩﺉ ﺤﻭﻜﻤﺔ ﺍﻝﺸﺭﻜﺎﺕ ﺍﻝﺨﺎﺼﺔ ﺒﻤﻨﻅﻤﺔ ﺍﻝﺘﻌﺎﻭﻥ ﺍﻻﻗﺘﺼﺎﺩﻱ ﻭﺍﻝﺘﻨﻤﻴﺔ ﺃﻥ ﺍﻝﻔﺠﻭﺓ ﻓﻲ ﺘﻨﻔﻴﺫ ﺤﻭﻜﻤﺔ ﺍﻝﺸﺭﻜﺎﺕ ﻓﻲ ﺍﻝﻘﻁﺎﻉ ﺍﻝﻤﺎﻝﻲ ﺃﺴﻬﻤﺕ ﺒﺸﻜل ﻴﻘﻴﻥ ﻭﻜﺒﻴﺭ ﻓﻲ ﺍﻨﺘﺸﺎﺭ 32 ﺍﻷﺯﻤﺔ ﺍﻝﻤﺎﻝﻴﺔ ،ﻭﺃﻥ ﺤﻭﻜﻤﺔ ﺍﻝﺸﺭﻜﺎﺕ ﺃﻴﻀﺎ ﺘﺴﺎﻋﺩ ﺒﺸﻜل ﻜﺒﻴﺭ ﻓﻲ ﺇﺩﺍﺭﺓ ﺍﻝﻤﺨﺎﻁﺭ ﺍﻝﻤﺎﻝﻴﺔ. ﻭﻨﺸﻴﺭ ﺇﻝﻰ ﺃﻨﻪ ﻤﻥ ﺒﻴﻥ ﺘﻭﺼﻴﺎﺕ ﺍﻝﻠﺠﻨﺔ ﺍﻝﺩﻭﻝﻴﺔ ﻝﻠﺸﺅﻭﻥ ﺍﻝﻤﺎﻝﻴﺔ ﻭﺍﻝﻨﻘﺩﻴﺔ ﺍﻝﻤﻨﺒﺜﻘﺔ ﻋﻥ ﻤﺠﻠﺱ ﻤﺤﺎﻓﻅﻲ ﺼﻨﺩﻭﻕ ﺍﻝﻨﻘﺩ ﺍﻝﺩﻭﻝﻲ ﺍﻝﻤﻨﻌﻘﺩﺓ ﻓﻲ 04ﺃﻜﺘﻭﺒﺭ 2009ﻓﻲ ﺍﺠﺘﻤﺎﻋﻬﺎ ﺍﻝﻌﺸﺭﻴﻥ ﺒﺈﺴﻁﻤﺒﻭل ﺒﺘﺭﻜﻴﺎ ﺒﻤﺸﺎﺭﻜﺔ 24ﻭﺯﻴﺭ ﻤﺎﻝﻴﺔ ، 33ﺍﻝﺘﺄﻜﻴﺩ ﻋل ﺃﻥ ﺘﻔﻌﻴل ﺩﻭﺭ ﺼﻨﺩﻭﻕ ﺍﻝﻨﻘﺩ ﺍﻝﺩﻭﻝﻲ ﻓﻲ ﺩﻓﻊ ﺍﻝﻨﻤﻭ ﺍﻻﻗﺘﺼﺎﺩﻱ ﺍﻝﻤﺴﺘﺩﺍﻡ ﻭﺍﻝﻤﺘﻭﺍﺯﻥ ﻴﺘﻁﻠﺏ 03ﻨﻘﺎﻁ ﺭﺌﻴﺴﻴﺔ ﻭﻫﻲ:34 ﺃﻭﻻ :ﺘﻁﻭﻴﺭ ﻨﻅﺎﻡ ﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺼﻨﺩﻭﻕ ﺍﻝﻨﻘﺩ ﺍﻝﺩﻭﻝﻲ ﺨﺎﺼﺔ ﺯﻴﺎﺩﺓ ﻨﺼﻴﺏ ﺍﻝﺩﻭل ﺍﻝﻨﺎﺸﺌﺔ ﻓﻲ ﺍﻝﺤﺼﺹ ﺍﻝﺘﺼﻭﻴﺘﻴﺔ ﺒﻨﺤﻭ %5ﺒﻤﺎ ﻴﺘﻨﺎﺴﺏ ﻤﻊ ﺜﻘﻠﻬﺎ ﺍﻻﻗﺘﺼﺎﺩﻱ ﺍﻝﻤﺘﻨﺎﻤﻲ. ﺜﺎﻨﻴﺎ :ﺘﻭﺴﻴﻊ ﺍﻝﺩﻭﺭ ﺍﻝﺭﻗﺎﺒﻲ ﻝﻠﺼﻨﺩﻭﻕ ﻤﻥ ﺍﻝﻤﻔﻬﻭﻡ ﺍﻝﻀﻴﻕ ﻝﻠﺭﻗﺎﺒﺔ ﻋﻠﻰ ﺃﺴﻌﺎﺭ ﺍﻝﺼﺭﻑ ﻭﻤﻴﺯﺍﻥ ﺍﻝﻤﺩﻓﻭﻋﺎﺕ ﻝﻴﺘﻀﻤﻥ ﺍﻝﺭﻗﺎﺒﺔ ﻋﻠﻰ ﺍﻝﻘﻁﺎﻉ ﺍﻝﻤﺼﺭﻓﻲ ﻭﺍﻷﺴﻭﺍﻕ ﺍﻝﻤﺎﻝﻴﺔ ،ﻭﻫﻲ ﺍﻝﻘﻁﺎﻋﺎﺕ ﺍﻝﺘﻲ ﺘﺴﺒﺒﺕ ﻓﻲ ﻭﻗﻭﻉ ﺍﻷﺯﻤﺔ ﺍﻝﻤﺎﻝﻴﺔ ﺍﻷﺨﻴﺭﺓ ﺒﺴﺒﺏ ﻏﻴﺎﺏ ﺍﻝﺭﻗﺎﺒﺔ ﺍﻝﻔﺎﻋﻠﺔ ﻋﻠﻴﻬﺎ. ﺜﺎﻝﺜﺎ :ﺩﻋﻡ ﺍﻝﺴﻴﺎﺴﺎﺕ ﺍﻝﻤﺎﻝﻴﺔ ﻭﺍﻝﻨﻘﺩﻴﺔ ﺍﻝﻼﺯﻤﺔ ﻝﻠﻨﻤﻭ ﺍﻝﻤﺴﺘﺩﺍﻡ ﻭﺍﻝﻤﺘﻭﺍﺯﻥ. ﻭﻗﺩ ﺃﺸﺎﺭﺕ ﺍﻝﻠﺠﻨﺔ ﺃﻋﻼﻩ ﻓﻲ ﺒﻴﺎﻨﻬﺎ ﺃﻨﻬﺎ ﺃﻁﻠﻘﺕ ﻋﻤﻠﻴﺔ ﺍﻻﻨﺫﺍﺭ ﺍﻝﻤﺒﻜﺭ ﺍﻝﻤﺸﺘﺭﻜﺔ ﺒﻴﻥ ﺍﻝﺼﻨﺩﻭﻕ ﻭﻤﺠﻠﺱ ﺍﻻﺴﺘﻘﺭﺍﺭ ﺍﻝﻤﺎﻝﻲ ،ﻜﻤﺎ ﺃﺸﺎﺭﺕ ﺇﻝﻰ ﺃﻨﻪ ﻤﻊ ﺍﻨﺤﺴﺎﺭ ﺍﻷﺯﻤﺔ ﺍﻝﻤﺎﻝﻴﺔ ﺍﻝﻌﺎﻝﻤﻴﺔ ﻭﺒﺩﺍﻴﺔ ﻅﻬﻭﺭ ﺒﻭﺍﺩﺭ ﺍﻻﻨﻔﺭﺍﺝ ،ﺘﺯﺩﺍﺩ ﺃﻫﻤﻴﺔ ﺍﻝﺩﻭﺭ ﺍﻝﺭﻗﺎﺒﻲ ﻝﺼﻨﺩﻭﻕ ﺍﻝﻨﻘﺩ ﺍﻝﺩﻭﻝﻲ ﻝﺘﺸﺨﻴﺹ ﺍﻹﺨﺘﻼﻻﺕ ﺍﻝﻤﺎﻝﻴﺔ ﻭﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﻓﻲ ﺩﻭﻝﺔ ﺃﻭ ﻤﺠﻤﻭﻋﺔ ﻤﻥ ﺍﻝﺩﻭل ﻭﺍﻝﺘﻲ ﻗﺩ ﻴﻜﻭﻥ ﻝﻬﺎ ﺘﺩﺍﻋﻴﺎﺕ ﻋﻠﻰ ﺴﻼﻤﺔ ﺍﻻﻗﺘﺼﺎﺩ ﺍﻝﻌﺎﻝﻤﻲ ﻤﺭﺓ ﺃﺨﺭﻯ. ﺍﻝﺨﺎﺘﻤﺔ ﻭﺍﻝﺘﻭﺼﻴﺎﺕ: ﺇﻥ ﻭﺠﻭﺩ ﻨﻅﺎﻡ ﻤﺼﺭﻓﻲ ﺴﻠﻴﻡ ﻴﻌﺘﺒﺭ ﺃﺤﺩ ﺍﻝﺭﻜﺎﺌﺯ ﺍﻷﺴﺎﺴﻴﺔ ﻝﺴﻼﻤﺔ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺎﻝﻲ ﻜﻜل ﻭﺍﻝﻘﻁﺎﻉ ﺍﻻﻗﺘﺼﺎﺩﻱ ﺒﺼﻔﺔ ﻋﺎﻤﺔ ،ﻭﺫﻝﻙ ﻷﻥ ﺍﻝﺠﻬﺎﺯ ﺍﻝﻤﺼﺭﻓﻲ ﻴﻌﺘﺒﺭ ﺃﺤﺩ ﺃﻫﻡ ﺍﻷﺠﺯﺍﺀ ﻓﻲ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺎﻝﻲ ،ﻜﻤﺎ ﻴﻌﺘﺒﺭ ﺍﻝﻤﻤﻭل ﺍﻷﻭل ﻝﻠﺘﻨﻤﻴﺔ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ. ﻭﺘﺘﻭﻗﻑ ﻗﺩﺭﺓ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺼﺭﻓﻲ ﻋﻠﻰ ﻤﻭﺍﺠﻬﺔ ﺍﻷﺯﻤﺎﺕ ﻋﻠﻰ ﻤﺩﻯ ﻗﺩﺭﺓ ﺍﻹﺠﺭﺍﺀﺍﺕ ﻭﺍﻝﺘﺩﺍﺒﻴﺭ ﺍﻻﺤﺘﺭﺍﺯﻴﺔ ﺍﻝﻤﻭﻀﻭﻋﺔ ﻤﻥ ﻗﺒل ﺍﻝﺴﻠﻁﺎﺕ ﺍﻝﻨﻘﺩﻴﺔ ﻝﻠﻭﻗﺎﻴﺔ ﻤﻥ ﺍﻷﺯﻤﺎﺕ ،ﻭﻋﻠﻰ ﻤﺩﻯ ﻗﺩﺭﺘﻬﺎ ﻋﻠﻰ ﺍﻝﺘﺩﺨل ﻝﻠﺤﺩ ﻭﺍﻝﺘﻘﻠﻴل ﻤﻥ ﺍﻝﺨﺴﺎﺌﺭ ﻭﺘﺩﻫﻭﺭ ﺍﻷﺼﻭل. ﻭﻝﻘﺩ ﺒﻴﻨﺕ ﺍﻝﺩﺭﺍﺴﺎﺕ ﺃﻫﻤﻴﺔ ﺍﻝﺤﻭﻜﻤﺔ ﺍﻝﺴﻠﻴﻤﺔ ﻓﻲ ﺍﻝﺒﻨﻭﻙ ﺨﺎﺼﺔ ﺒﻌﺩﻤﺎ ﺘﺯﺍﻴﺩﺕ ﺍﻝﻌﻭﺍﻤل ﺍﻝﺘﻲ ﺘﺅﺩﻱ ﺇﻝﻰ ﻋﺩﻡ ﺍﻻﺴﺘﻘﺭﺍﺭ ﻓﻲ ﺍﻝﻘﻁﺎﻉ ﺍﻝﻤﺼﺭﻓﻲ ﻭﺫﻝﻙ ﻓﻲ ﻅل ﻋﻭﻝﻤﺔ ﺍﻷﺴﻭﺍﻕ ﺍﻝﻤﺎﻝﻴﺔ ﻭﺴﻴﺎﺴﺔ ﺍﻝﺘﺤﺭﻴﺭ ﺍﻝﻤﺼﺭﻓﻲ ﺍﻝﺘﻲ ﺘﻨﺘﻬﺠﻬﺎ ﺍﻝﺒﻨﻭﻙ ،ﻭﺘﻐﻴﺭ ﺒﻴﺌﺔ ﺍﻝﻌﻤل ﺍﻝﻤﺼﺭﻓﻴﺔ ﺒﺼﻔﺔ ﻋﺎﻤﺔ ﻨﺘﻴﺠﺔ ﺍﻝﻌﻭﻝﻤﺔ ﺍﻝﻤﺎﻝﻴﺔ. ﻭﻗﺩ ﻻﺤﻅﻨﺎ ﻤﻥ ﺨﻼل ﺍﻷﺯﻤﺔ ﺍﻝﻤﺎﻝﻴﺔ ﺍﻝﻌﺎﻝﻤﻴﺔ ﺍﻝﺭﺍﻫﻨﺔ ﺃﻥ ﺍﻻﺒﺘﻌﺎﺩ ﻭﻋﺩﻡ ﺍﻝﺘﻁﺒﻴﻕ ﺍﻝﺴﻠﻴﻡ ﻝﻀﻭﺍﺒﻁ ﻭﻗﻭﺍﻋﺩ ﺍﻝﺤﻭﻜﻤﺔ ﻫﻭ ﻤﻥ ﺍﻷﺴﺒﺎﺏ ﺍﻝﺭﺌﻴﺴﻴﺔ ﻝﻸﺯﻤﺔ ،ﻜﻤﺎ ﺃﻥ ﻤﻌﻅﻡ ﺍﻝﺩﻭل ﺭﺠﻌﺕ ﺇﻝﻰ ﺘﻠﻙ ﺍﻝﻘﻭﺍﻋﺩ ﻝﻠﺨﺭﻭﺝ ﻤﻨﻬﺎ. ﻭﻓﻲ ﺍﻷﺨﻴﺭ ﻨﻘﺘﺭﺡ ﺒﻌﺽ ﺍﻝﺘﻭﺼﻴﺎﺕ ﺍﻝﺘﻲ ﻨﺭﻯ ﺃﻨﻬﺎ ﻗﺩ ﺘﺴﺎﻋﺩ ﻓﻲ ﺍﺴﺘﻘﺭﺍﺭ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺼﺭﻓﻲ ﺍﻝﺠﺯﺍﺌﺭﻱ ،ﻭﻨﻠﺨﺼﻬﺎ ﻓﻲ ﺍﻷﺘﻲ: ﻴﺠﺏ ﻋﻠﻰ ﺍﻝﺩﻭﻝﺔ ﺃﻥ ﺘﺩﻋﻡ ﺴﻼﻤﺔ ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺼﺭﻓﻲ ﻤﻥ ﺨﻼل ﺘﻨﺼﻴﺏ ﺨﻠﻴﺔ ﻝﻠﺘﻨﺒﺅ ﺍﻝﻤﺒﻜﺭﺒﺤﺩﻭﺙ ﺍﻷﺯﻤﺎﺕ ﺍﻝﻤﺼﺭﻓﻴﺔ ،ﺤﻴﺙ ﻴﻜﻭﻥ ﺫﻝﻙ ﻤﻥ ﺨﻼل ﺘﻭﻓﻴﺭ ﻨﻅﺎﻡ ﺍﺘﺼﺎﻻﺕ ﺠﻴﺩ ﻝﺠﻤﻊ ﺍﻝﻤﻌﻠﻭﻤﺎﺕ ﻭﺇﺘﺎﺤﺘﻬﺎ ﻓﻲ ﺍﻝﻭﻗﺕ ﺍﻝﻤﻨﺎﺴﺏ ﻭﺘﺤﻠﻴﻠﻬﺎ ﻻﺘﺨﺎﺫ ﺍﻝﻘﺭﺍﺭ ﻓﻲ ﻀﻭﺀ ﺘﺼﻭﺭ ﺸﺎﻤل ﻝﻠﻭﻀﻊ ﺩﺍﺨل ﺍﻝﺠﻬﺎﺯ ﺍﻝﺒﻨﻜﻲ؛ ﺍﻝﻌﻤل ﻋﻠﻰ ﺨﻠﻕ ﻝﺠﺎﻥ ﻝﻠﺤﻭﻜﻤﺔ ﻋﻠﻰ ﻤﺴﺘﻭﻯ ﺍﻝﺒﻨﻭﻙ ﺘﺤﺕ ﺇﺸﺭﺍﻑ ﺍﻝﺒﻨﻙ ﺍﻝﻤﺭﻜﺯﻱ؛ ﺘﻁﻭﻴﺭ ﺍﻝﺩﻭﺭ ﺍﻹﺸﺭﺍﻓﻲ ﻭﺍﻝﺭﻗﺎﺒﻲ ﻝﻠﺒﻨﻙ ﺍﻝﻤﺭﻜﺯﻱ ﻋﻠﻰ ﺍﻝﺒﻨﻭﻙ ﻭﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻝﻤﺎﻝﻴﺔ ﻝﻴﺘﻼﺀﻡ ﻤﻊﺍﻝﻤﺨﺎﻁﺭ ﺍﻝﺠﺩﻴﺩﺓ ﻓﻲ ﻅل ﺍﺴﺘﺨﺩﺍﻡ ﺍﻝﺘﻜﻨﻭﻝﻭﺠﻴﺎﺕ ﺍﻝﺤﺩﻴﺜﺔ؛ ﺍﻹﺴﺭﺍﻉ ﻓﻲ ﺘﻁﺒﻴﻕ ﺠﻤﻴﻊ ﺒﻨﻭﺩ ﺍﺘﻔﺎﻗﻴﺔ ﺒﺎﺯل 2ﻋﻠﻰ ﻤﺴﺘﻭﻯ ﺍﻝﺒﻨﻭﻙ ﻭﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻝﻤﺎﻝﻴﺔ؛ -ﺍﻹﺴﺭﺍﻉ ﻓﻲ ﺘﻁﺒﻴﻕ ﻤﻌﺎﻴﻴﺭ ﺍﻝﻤﺤﺎﺴﺒﺔ ﺍﻝﺩﻭﻝﻴﺔ ﺒﺎﻝﺒﻨﻭﻙ.
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ا ا:2% 1ﻤﺤﻤﺩ ﺤﺴﻥ ﻴﻭﺴﻑ ،ﻤﺤﺩﺩﺍﺕ ﺍﻝﺤﻭﻜﻤﺔ ﻭﻤﻌﺎﻴﻴﺭﻫﺎ .ﺒﻨﻙ ﺍﻻﺴﺘﺜﻤﺎﺭ ﺍﻝﻘﻭﻤﻲ ،ﻴﻭﻨﻴﻭ .2007ﻤﻘﺎل ﻤﺘﺎﺡ ﻋﻠﻰ ﺍﻝﻤﻭﻗﻊ ﺍﻻﻝﻜﺘﺭﻭﻨﻲ: http://www.saaid.net/Doat/hasn/hawkama.doc 2ﺩﻫﻤﺵ ﻨﻌﻴﻡ ،ﺇﺴﺤﻕ ﺃﺒﻭ ﺯﺭ ﻋﻔﺎﻑ ،ﺘﺤﺴﻴﻥ ﻭﺘﻁﻭﻴﺭ ﺍﻝﺤﺎﻜﻤﻴﺔ ﺍﻝﻤﺅﺴﺴﻴﺔ ﻓﻲ ﺍﻝﺒﻨﻭﻙ .ﻤﺠﻠﺔ ﺍﻝﺒﻨﻭﻙ ﻓﻲ ﺍﻷﺭﺩﻥ ،ﺍﻝﻌﺩﺩ ﺍﻝﻌﺎﺸﺭ، ﺍﻝﻤﺠﻠﺩ ﺍﻝﺜﺎﻨﻲ ﻭﺍﻝﻌﺸﺭﻭﻥ ،ﺩﻴﺴﻤﺒﺭ ،2003ﺹ.27 3ﻤﺤﻤﺩ ﺤﺴﻥ ﻴﻭﺴﻑ ،ﻤﺭﺠﻊ ﺴﺎﺒﻕ. 4ﺍﻝﻤﺠﻤﻊ ﺍﻝﻌﺭﺒﻲ ﻝﻠﻤﺤﺎﺴﺒﻴﻥ ﺍﻝﻘﺎﻨﻭﻨﻴﻴﻥ ،ﻨﺸﺭﺓ ﺇﻝﻜﺘﺭﻭﻨﻴﺔ ﺸﻬﺭﻴﺔ ،ﻋﺩﺩ ،53ﻓﻴﻔﺭﻱ http://www.ascasociety.org .2004 5ﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﻤﺼﺎﺭﻑ .ﻤﻘﺎل ﻤﺘﺎﺡ ﻋﻠﻰ ﺍﻝﻤﻭﻗﻊ ﺍﻻﻝﻜﺘﺭﻭﻨﻲhttp://www.idbe-egypt.com/doc/governance.doc : 6ﻫﺎﻝﺔ ﺍﻝﺴﻌﻴﺩ ،ﺘﻁﺒﻴﻕ ﺍﻝﺤﻭﻜﻤﺔ ﻓﻲ ﺍﻝﺒﻨﻭﻙ ﺍﻝﻌﺎﻤﺔ .ﻤﻘﺎل ﻤﺘﺎﺡ ﻋﻠﻰ ﺍﻝﻤﻭﻗﻊ ﺍﻻﻝﻜﺘﺭﻭﻨﻲ: http://islamfin.go-forum.net/montada-f43/topic-t1780.htm 7 Fawzi.s, Assessment of corporate governance in Egypt. working paper n° 82, Egypt, the Egyptian center of economic studies, April 2003, p 4. 8 Ibid, p3,4. 9ﻤﺤﻤﺩ ﺤﺴﻥ ﻴﻭﺴﻑ ،ﻤﺭﺠﻊ ﺴﺎﺒﻕ. 10 Oman Charles, Blume Daniel, la gouvernance d’entreprise : un défit pour le développement. Repères n° 03, centre de développement de l’OCDE , p14. http://www.usinfo.state.gov./journals/ites/0205/.ijee/wray.htm 11ﺩﻫﻤﺵ ﻨﻌﻴﻡ ،ﺇﺴﺤﻕ ﺃﺒﻭ ﺯﺭ ﻋﻔﺎﻑ ،ﻤﺭﺠﻊ ﺴﺎﺒﻕ ،ﺹ.30-27 12ﻤﻌﺭﺍﺝ ﻋﺒﺩ ﺍﻝﻘﺎﺩﺭ ﻫﻭﺍﺭﻱ ،ﺃﺤﻤﺩ ﻋﺒﺩ ﺍﻝﺤﻔﻴﻅ ﻤﺠﺩل ،ﺍﻝﺤﻭﻜﻤﺔ ﺍﻝﻤﺅﺴﺴﻴﺔ ﻓﻲ ﺍﻝﻘﻁﺎﻉ ﺍﻝﺒﻨﻜﻲ ﻭﺍﻝﻤﺎﻝﻲ ﻭﺩﻭﺭﻫﺎ ﻓﻲ ﺇﺭﺴﺎﺀ ﻗﻭﺍﻋﺩ ﺍﻝﺸﻔﺎﻓﻴﺔ .ﻤﻘﺎل ﻤﺘﺎﺡ ﻋﻠﻰ ﺍﻝﻤﻭﻗﻊ ﺍﻻﻝﻜﺘﺭﻭﻨﻲ ﻴﻭﻡ :2008/03/12 jpsdirectory.brinkster.net/forum/forum_poste.asp ?TID=2045 http:// 13ﺍﻝﺒﻨﻙ ﺍﻷﻫﻠﻲ ﺍﻝﻤﺼﺭﻱ ،ﺍﻝﻨﺸﺭﺓ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ،ﻨﻅﻡ ﺍﻝﺭﻗﺎﺒﺔ ﺍﻝﻤﺼﺭﻓﻴﺔ ﻓﻲ ﺍﻝﺩﻭل ﺍﻝﻤﺘﻘﺩﻤﺔ .ﺍﻝﻌﺩﺩ ﺍﻝﺭﺍﺒﻊ ،ﺍﻝﻘﺎﻫﺭﺓ ،2001،ﺹ.11 14ﻤﺎﺠﺩﺓ ﺍﺤﻤﺩ ﺸﻠﺒﻲ ،ﺍﻝﺭﻗﺎﺒﺔ ﺍﻝﻤﺼﺭﻓﻴﺔ ﻓﻲ ﻅل ﺍﻝﺘﺤﻭﻻﺕ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﺍﻝﻌﺎﻝﻤﻴﺔ ﻭﻤﻌﺎﻴﻴﺭ ﻝﺠﻨﺔ ﺒﺎﺯل .ﺍﻝﺩﻝﻴل ﺍﻻﻝﻜﺘﺭﻭﻨﻲ ﻝﻠﻘﺎﻨﻭﻥ ﺍﻝﻌﺭﺒﻲ ،ﺹwww.arablawinfo.com .28 15ﺴﻠﻴﻤﺎﻥ ﻨﺎﺼﺭ ،ﺍﻝﻨﻅﺎﻡ ﺍﻝﻤﺼﺭﻓﻲ ﺍﻝﺠﺯﺍﺌﺭﻱ ﻭﺍﺘﻔﺎﻗﻴﺎﺕ ﺒﺎﺯل .ﻤﺠﻠﺔ ﺍﻝﻌﻠﻭﻡ ﺍﻻﻗﺘﺼﺎﺩﻴﺔ ﻭﻋﻠﻭﻡ ﺍﻝﺘﺴﻴﻴﺭ ،ﺠﺎﻤﻌﺔ ﺴﻁﻴﻑ ،ﺍﻝﻌﺩﺩ ، 2006/06ﺹ.159 16ﻨﻅﺎﻡ ﺭﻗﻡ 03-02ﻤﺅﺭﺥ ﻓﻲ 2002/11/14ﻴﺘﻀﻤﻥ ﺍﻝﻤﺭﺍﻗﺒﺔ ﺍﻝﺩﺍﺨﻠﻴﺔ ﻝﻠﺒﻨﻭﻙ ﻭﺍﻝﻤﺅﺴﺴﺎﺕ ﺍﻝﻤﺎﻝﻴﺔ .ﺝ ﺭ ﻋﺩﺩ 84ﻝﺴﻨﺔ ،2002 ﺍﻝﻤﺎﺩﺓ ، 01ﺹ.25 17 Guernaout.M, Crises financières et faillites des banques algériennes. Edition GAL, Alger, 2004, p43. 18ﻤﻌﺭﺍﺝ ﻋﺒﺩ ﺍﻝﻘﺎﺩﺭ ﻫﻭﺍﺭﻱ ،ﺃﺤﻤﺩ ﻋﺒﺩ ﺍﻝﺤﻔﻴﻅ ﻤﺠﺩل ،ﻤﺭﺠﻊ ﺴﺎﺒﻕ. 19ﻨﻔﺱ ﺍﻝﻤﺭﺠﻊ ﺍﻝﺴﺎﺒﻕ. 20ﻴﺸﻤل ﻨﻅﺎﻡ ﺒﺎﺯل 2ﺍﻝﺭﻜﺎﺌﺯ ﺍﻝﺜﻼﺙ ﺍﻝﺘﺎﻝﻴﺔ: ﺍﻝﺭﻜﻴﺯﺓ ﺍﻷﻭﻝﻰ :ﺘﻘﻴﻴﻡ ﺍﻝﻤﺨﺎﻁﺭ ﻤﻥ ﺠﺎﻨﺏ ﺍﻝﺒﻨﻭﻙ ﻤﻥ ﺨﻼل ﺃﻨﻅﻤﺘﻬﺎ ﺍﻝﺩﺍﺨﻠﻴﺔ ﻭﺘﻐﻁﻴﺔ ﺍﻝﻤﺨﺎﻁﺭ ﻋﻠﻰ ﺍﻷﻤﻭﺍل ﺍﻝﺨﺎﺼﺔ. ﺍﻝﺭﻜﻴﺯﺓ ﺍﻝﺜﺎﻨﻴﺔ :ﺍﻝﻤﺭﺍﻗﺒﺔ ﺍﻝﻭﻗﺎﺌﻴﺔ ﻭﺍﻝﺘﻭﺼﻴﺎﺕ ﺍﻝﻤﺘﻌﻠﻘﺔ ﺒﺘﺴﻴﻴﺭ ﺍﻝﻤﺨﺎﻁﺭ ﻭﺍﻝﺸﻔﺎﻓﻴﺔ ﻭﺍﻝﻤﺴﺎﺀﻝﺔ. ﺍﻝﺭﻜﻴﺯﺓ ﺍﻝﺜﺎﻝﺜﺔ :ﻀﺭﻭﺭﺓ ﺍﻝﺘﻭﺍﺼل ﻓﻲ ﻤﺠﺎل ﺍﻝﻤﺎﻝﻴﺔ ﺒﻐﻴﺔ ﺘﻤﻜﻴﻥ ﻤﺨﺘﻠﻑ ﺍﻝﻔﺎﻋﻠﻴﻥ ﻓﻲ ﺍﻝﺴﻭﻕ ﻤﻥ ﺘﻘﻴﻴﻡ ﺍﻝﻌﻭﺍﻤل ﺍﻷﺴﺎﺴﻴﺔ ﺫﺍﺕ ﺍﻝﺼﻠﺔ ﺒﺎﻷﻤﻭﺍل ﺍﻝﺨﺎﺼﺔ ﻭﺘﻌﺭﻀﻬﺎ ﻝﻠﻤﺨﺎﻁﺭ ،ﻭﻜﺫﺍ ﺇﺠﺭﺍﺀﺍﺕ ﺘﻘﻴﻴﻤﻬﺎ ،ﻭﺒﺎﻝﺘﺎﻝﻲ ﺘﻘﻴﻴﻡ ﻤﺩﻯ ﺍﺴﺘﻴﻔﺎﺀ ﺍﻷﻤﻭﺍل ﺍﻝﺨﺎﺼﺔ ﻝﻤﺨﺎﻁﺭ ﺍﻝﻤﺅﺴﺴﺎﺕ. 21ﺍﻵﻝﻴﺔ ﺍﻹﻓﺭﻴﻘﻴﺔ ﻝﻠﺘﻘﻴﻴﻡ ﻤﻥ ﻗﺒل ﺍﻝﻨﻅﺭﺍﺀ ،ﺘﻘﺭﻴﺭ ﺍﻝﺠﻤﻬﻭﺭﻴﺔ ﺍﻝﺠﺯﺍﺌﺭﻴﺔ ﺤﻭل ﺤﺎﻝﺔ ﺘﻨﻔﻴﺫ ﺒﺭﻨﺎﻤﺞ ﺍﻝﻌﻤل ﺍﻝﻭﻁﻨﻲ ﻓﻲ ﻤﺠﺎل ﺍﻝﺤﻜﺎﻤﺔ. ﺍﻝﺠﺯﺍﺌﺭ ،ﻨﻭﻓﻤﺒﺭ ،2008ﺹ.134،135 22ﻨﻔﺱ ﺍﻝﻤﺭﺠﻊ ﺍﻝﺴﺎﺒﻕ ،ﺹ.148،149 23ﻨﻔﺱ ﺍﻝﻤﺭﺠﻊ ﺍﻝﺴﺎﺒﻕ ،ﺹ .152 24ﻨﻔﺱ ﺍﻝﻤﺭﺠﻊ ﺍﻝﺴﺎﺒﻕ ،ﺹ .153 25ﺠﺭﻴﺩﺓ ﺍﻝﺨﺒﺭ ،ﻋﺩﺩ 5627ﻝﻴﻭﻡ .2009/05/05 26 Banque d’Algérie, Règlement n° 09/03 du 26/05/2009 fixant les règles générales en matière de conditions de banque applicables aux opérations de banque. Articles 02 et 03. 27ﻤﺭﻜﺯ ﺍﻝﻤﺸﺭﻭﻋﺎﺕ ﺍﻝﺩﻭﻝﻴﺔ ﺍﻝﺨﺎﺼﺔ ،ﺇﻁﻼﻕ ﺍﻝﻤﺩﻭﻨﺔ ﺍﻝﺠﺯﺍﺌﺭﻴﺔ ﻝﺤﻭﻜﻤﺔ ﺍﻝﺸﺭﻜﺎﺕ .ﻨﺸﺭﻴﺔ ﺩﻭﺭﻴﺔ ﻝﻠﺸﺭﻕ ﺍﻷﻭﺴﻁ ﻭﺸﻤﺎل ﺇﻓﺭﻴﻘﻴﺎ ﺒﻌﻨﻭﺍﻥ :ﺤﻭﻜﻤﺔ ﺍﻝﺸﺭﻜﺎﺕ...ﻗﻀﺎﻴﺎ ﻭﺍﺘﺠﺎﻫﺎﺕ .ﺍﻝﻌﺩﺩ ﺍﻝﺴﺎﺩﺱ ﻋﺸﺭ ،2009 ،ﺹ .01 28ﻨﻔﺱ ﺍﻝﻤﺭﺠﻊ ﺍﻝﺴﺎﺒﻕ ،ﺹ .03 ،01 29ﻨﻔﺱ ﺍﻝﻤﺭﺠﻊ ﺍﻝﺴﺎﺒﻕ ،ﺹ .03 30ﻨﺎﺼﺭ ﺍﻝﺴﻌﻴﺩﻱ ،ﺩﻭﺭ ﺍﻝﺤﻭﻜﻤﺔ ﺍﻝﺸﺭﻜﺎﺕ ﻓﻲ ﺍﻷﺯﻤﺔ ﺒﺎﻝﺘﻁﺒﻴﻕ ﻋﻠﻰ ﺩﻭل ﻤﺠﻠﺱ ﺍﻝﺘﻌﺎﻭﻥ .ﻤﻠﺘﻘﻰ ﺤﻭل :ﺁﺜﺎﺭ ﺍﻷﺯﻤﺔ ﺍﻝﻤﺎﻝﻴﺔ ﻭﺒﻌﺽ ﺍﻝﺤﻠﻭل ﺍﻝﻤﻘﺘﺭﺤﺔ ،ﻨﻅﻤﺘﻪ ﻫﻴﺌﺔ ﺍﻷﻭﺭﺍﻕ ﺍﻝﻤﺎﻝﻴﺔ ﻭﺍﻝﺴﻠﻊ ،ﺃﺒﻭ ﻅﺒﻲ ﻴﻭﻡ .2009/01/26ﻤﺘﺎﺡ ﻋﻠﻰ ﺍﻝﻤﻭﻗﻊ ﺍﻹﻝﻜﺘﺭﻭﻨﻲ: http://awareness.sca.ae/news/pages/2009-01-26.aspx
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31ﻤﺭﻜﺯ ﺍﻝﻤﺸﺭﻭﻋﺎﺕ ﺍﻝﺩﻭﻝﻴﺔ ﺍﻝﺨﺎﺼﺔ ،ﺩﺭﻭﺱ ﻤﻥ ﺍﻷﺯﻤﺔ :ﺍﻝﺤﻭﻜﻤﺔ ﺍﻝﺭﺸﻴﺩﺓ ﻋﻨﺼﺭ ﺃﺴﺎﺴﻲ ﻝﺠﻭﺩﺓ ﺍﻷﺴﻭﺍﻕ .ﻤﺭﺠﻊ ﺴﺎﺒﻕ، ﺹ.04 32ﻨﻔﺱ ﺍﻝﻤﺭﺠﻊ ﺍﻝﺴﺎﺒﻕ ،ﺹ .04 33ﻴﻤﺜﻠﻭﻥ ﺩﻭل ﻤﺠﻤﻭﻋﺔ ﺍﻝﺜﻤﺎﻨﻴﺔ ،ﺒﺎﻹﻀﺎﻓﺔ ﺇﻝﻰ ﻭﺯﺭﺍﺀ ﻤﺎﻝﻴﺔ ﻜل ﻤﻥ :ﺍﻝﺴﻌﻭﺩﻴﺔ ،ﺍﻹﻤﺎﺭﺍﺕ ،ﺍﻝﺠﺯﺍﺌﺭ ،ﺍﻝﻐﺎﺒﻭﻥ ،ﺠﻨﻭﺏ ﺇﻓﺭﻴﻘﻴﺎ، ﺍﻝﺒﺭﺍﺯﻴل ،ﺍﻷﺭﺠﻨﺘﻴﻥ ،ﺍﻝﻬﻨﺩ ،ﺍﻝﺼﻴﻥ ،ﺇﻨﺩﻭﻨﻴﺴﻴﺎ ،ﻜﻭﺭﻴﺎ ﺍﻝﺠﻨﻭﺒﻴﺔ ،ﺇﺴﺒﺎﻨﻴﺎ ،ﺴﻭﻴﺴﺭﺍ ،ﻫﻭﻝﻨﺩﺍ ،ﺒﻠﺠﻴﻜﺎ ﻭﺍﻝﺴﻭﻴﺩ. 34ﻴﻭﺴﻑ ﺒﻁﺭﺱ ﻏﺎﻝﻲ ،ﺘﻁﻭﻴﺭ ﻨﻅﺎﻡ ﺍﻝﺤﻭﻜﻤﺔ ﻝﺼﻨﺩﻭﻕ ﺍﻝﻨﻘﺩ ﺍﻝﺩﻭﻝﻲ ،ﺒﺘﺎﺭﻴﺦ .2009/10/04ﻤﺘﺎﺡ ﻋﻠﻰ ﺍﻝﻤﻭﻗﻊ ﺍﻻﻝﻜﺘﺭﻭﻨﻲ: http://elbashayeronline.com/news-65531.html
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